News / Transpacific spot rates soften early as carriers prepare for post-CNY slump

Daniël Leppens

The last Shanghai Containerized Freight Index (SCFI) before the Chinese New Year holiday has recorded a modest softening of spot rates on the transpacific, while carriers were able to hold rates steady between Asia and Europe.

Spot rates between Asia and the US west coast fell by 2.3% to $1,993 per 40ft and by 2.6% for east coast ports to $3,054 per 40ft.

Historically, freight rates on the transpacific usually drop sharply after the CNY, due to weaker demand. According to the Freightos ...