News / Ocean rates still collapsing – carriers pin hopes on early Chinese New Year

© Oleksandr Tkachenko Dreamstime.com.

Ocean carriers are continuing to blank consecutive headhaul sailings from China to North Europe and the US west coast as they attempt to slow the erosion of container spot rates.

However, despite the sharp increase in voyage cancellations, shippers appear to be having very little difficulty getting space on first-available departures –bringing back the concept of a ‘just-in-time’ supply chain.

Asia to the USWC is of particular concern for the lines, with rates on the route having collapsed from the highs of ...