Spot rates on transpacific surge after news of tariff time-out
Container freight spot rates shot up on the transpacific trades this week, with an immediate ...
Photo: © Péter Gudella
By Mike Wackett
The first evidence of the depth of the liner shipping freight rate correction comes with the Q1 operational numbers for OOCL, which revealed a 58% year-on-year slump in the carrier’s revenue.
Several weeks ahead of the financial earnings season publications from the other major carriers, OOCL’s data is regarded as a harbinger of the health of the container sector.
Indeed, a collapse in freight rates from highly elevated levels, driven by weak demand and overstocked inventories, suggests that the carriers will be ...
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