News / Tumbling Asia-to-US rates could hamper carriers in contract renewal talks

© Nikolay Antonov

Container spot rates from Asia to the US are sliding fast, with today’s Shanghai Containerised Freight Index (SCFI) recording a further 10% drop for the US west coast and 7% for east coast ports.

With new annual contract negotiations about to begin in earnest, transpacific carriers hoping to secure a 20%+ rate hike from BCOs will need a very convincing pitch, and get meetings booked early, before rates tumble even further.

Due to a positive impact on rates from the front-loading of ...