Rates update, week 51: GRIs boost prices, with more to come in January
Container spot rates on the transpacific trades shot up this week, on the back of ...
FDX: ABOUT USPS PRIVATISATIONFDX: CCO VIEWFDX: LOWER GUIDANCE FDX: DISRUPTING AIR FREIGHTFDX: FOCUS ON KEY VERTICALFDX: LTL OUTLOOKGXO: NEW LOW LINE: NEW LOW FDX: INDUSTRIAL WOESFDX: HEALTH CHECKFDX: TRADING UPDATEWMT: GREEN WOESFDX: FREIGHT BREAK-UPFDX: WAITING FOR THE SPINHON: BREAK-UP ALLUREDSV: BREACHING SUPPORTVW: BOLT-ON DEALAMZN: TOP PICK
FDX: ABOUT USPS PRIVATISATIONFDX: CCO VIEWFDX: LOWER GUIDANCE FDX: DISRUPTING AIR FREIGHTFDX: FOCUS ON KEY VERTICALFDX: LTL OUTLOOKGXO: NEW LOW LINE: NEW LOW FDX: INDUSTRIAL WOESFDX: HEALTH CHECKFDX: TRADING UPDATEWMT: GREEN WOESFDX: FREIGHT BREAK-UPFDX: WAITING FOR THE SPINHON: BREAK-UP ALLUREDSV: BREACHING SUPPORTVW: BOLT-ON DEALAMZN: TOP PICK
Relief could be in the pipeline for transpacific shippers – although not anytime soon. An old plan to build a rail line between China and the US (yes, really), has been revitalised. However, it will require buy-in from China, Russia, Canada and the US, a feat that may not currently be politically possible. According to Railfreight, the 13,000km rail line would partially be underwater, to cover the Bering Strait, becoming the longest underwater tunnel in the world, at more than 103km. The longest currently is the Channel Tunnel between the UK and France, just 50km.
The China-US rail network would provide capacity for some 100m tonnes of freight – or 8% of the total carried each year between Europe, Russia, Japan, South Korea, Canada and the US.
However, readers of RailFreight have little confidence – 55% saying it will never happen.
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