News / Three new Asia-US east coast services will provide a boost for the Panama Canal

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At least three new Asia-US east coast all-water services via the Panama Canal are set to be launched by carriers capitalising on increased demand from shippers looking for alternatives to US west coast ports and the resulting high spot rates, according to Alphaliner.

Driven by terminal congestion on the US Pacific seaboard, spot rates from Asia to the US east coast spiked to record highs of over $5,000 per 40ft in February – more than two-and-a-half times the norm for the ...