Ocean Rates Tested by Capacity Conundrum
Major liner operators are pulling levers in an effort to manage capacity as economic uncertainty in the world’s biggest market undercuts demand on the benchmark eastbound trans-Pacific trade lane.
The Freightos Baltic Index saw Asia-U.S. West Coast rates climb 48% in the latest week to $2,958 per forty foot equivalent unit, mostly on general rate increases (GRIs) that took effect Nov. 1.
But in the peculiar yes-no world of seafreight pricing, current daily rates are trending down slightly while rates to the East Coast remained about even with October levels...
To Read Full Story Login Below.