Container Rates from Key US Trade Partner Plummet 39%
The latest weekly ocean container shipping market reveals a stark contrast in rate movements across major trade lanes, as the trans-Pacific trade from the Far East to the United States saw a dramatic decline.
The market average according to analyst Xeneta on Far East to U.S. West Coast services has fallen significantly since a spike on June 1. Declining spot rates have all but erased that recent surge, with rates standing at $3,317 per forty foot equivalent unit on June 27, up just 6% from May 31, effectively neutralizing...
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