'Cargo collision' expected as transpacific capacity tightens and rates rise
Transpacific shippers keen to take advantage of the 90-day tariff time-out are likely to be ...
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By Mike Wackett
Long-term contract rates agreed over the past three months between major ports in China and North Europe have soared by 64%, according to container freight rate benchmarking platform Xeneta.
Xeneta’s calculation is based on the average market prices – June 2017 compared with June 2016 – of more than 1,500 contracted rates populating its platform for this corridor.
However, despite the spike in contract rates, Xeneta says it is still too early to talk of a sustained recovery in the trade, given the continued weak fundamentals of overcapacity ...
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