Widespread blanked sailings stave off major collapse of transpacific rates
Spot rates across all the major east-west deepsea trades continued their downward descent this week, ...
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By Mike Wackett
There were further significant falls in spot rates on the key transpacific and Asia-Europe tradelanes this week.
Today’s publication of the Shanghai Containerized Freight Index (SCFI) shows Asia to the US west coast spot rates fell another 6%, to $1,345 per 40ft, and are a massive 51% below their peak in November.
And spot rates for US east coast ports suffered a further 4.9% fall, to $2,357 per 40ft, and have lost 39% in value since November.
The softness in the market, attributed ...
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