News / Widespread blanked sailings stave off major collapse of transpacific rates

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Spot rates across all the major east-west deepsea trades continued their downward descent this week, although it has become increasingly clear that widespread blanked sailings on the transpacific trade managed to stave off a complete crash.

Drewry’s World Container Index (WCI) this week saw a week-on-week decline of just 1% on its Shanghai-Los Angeles leg, to finish at $2,590 per 40ft, while the Shanghai-New York leg lost 3%, to end at $3,500 per 40ft.

Forwarders on the trade told The Loadstar the ...