Cancelled voyages take the sting out of spot rate declines this week
Container freight spot rates maintained their downward trajectory this week, as tariff uncertainty continued to ...
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By Mike Wackett
As expected, container spot rates have soared between Asia and the US this week, buoyed by GRIs and radical capacity cuts by carriers.
The Shanghai Containerized Freight Index (SCFI) recorded a massive 24.5% leap in spot rates for the US west coast, to $1,720 per 40ft.
For US east coast ports, rates jumped 16%, to $2,789 per 40 ft.
According to Alphaliner, the Ocean Alliance will have removed over 29,000 teu of capacity during July by withdrawing three headhaul voyages.
At the same time, ...
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