Ocean Rates Higher by Double-Digits as US Makes Asia Trade Progress
Container rates on trans-Pacific routes from Asia to the United States and Northern Europe improved by double-digits as negotiators made progress on regional trade deals.
Rates have “for the most part” maintained general rate increases from mid-October, analyst Freightos said in a weekly update, as carriers increased blanked sailings in an effort to balance capacity with lower demand during the seasonal lull.
“Trans-Pacific and Asia-North Europe rates increased 15% to 20% last week to about $2,000 per forty foot equivalent unit (FEU) to the West Coast, $3,500 per FEU to the East Coast and $2,270 per FEU to...
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