'Cargo collision' expected as transpacific capacity tightens and rates rise
Transpacific shippers keen to take advantage of the 90-day tariff time-out are likely to be ...
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By Mike Wackett
Ocean carriers are offering significant discounts on Asia exports to the US and Europe as the traditional slack season kicks in.
The discounting and waiving of premium fees for late November and December shipments caused a mini-collapse in container spot rates this week.
According to the Freightos Baltic Exchange (FBX), spot rates from Asia to the US west coast slumped by 26% in the past week, to $13,924 per 40ft, and by 20% for east coast ports. to $15,865 per 40ft.
“For the ...
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