Rates in the trans-Pacific eastbound trade from Asia to North America are starting to resemble the paltry Asia-Europe and trans-Pacific westbound numbers. Within a couple weeks, we may have three-digit numbers for spot rates for 40-foot containers moving from China-based ports to Los Angeles and Long Beach. I can’t recall seeing rates this low in my 42 years in the business.
An overview of container trade, container lines and shipping line news.
News & Analysis
02 Sep 2015
CMA CGM announced a Sept. 20 general rate increase of $500 per 20-foot-equivalent unit encompassing all cargo originating in Asia and heading to North Europe.
28 Aug 2015
Just days before trans-Pacific ocean carriers aim to implement aggressive general rate increases on eastbound services to North America, average spot rates from Shanghai to the U.S. hit their lowest level in almost four years.
25 Aug 2015
The G6 Alliance has withdrawn two more sailings on the Asia-Europe trade as the alliance has blanked 16 sailings in the past three months to staunch the bleeding in the trade’s freight rates.
24 Aug 2015
Short sea ship operator Herbilan Shipping is introducing a dedicated, regional container service between the Indian subcontinent and Myanmar to shorten transit times for shippers moving goods between each region.
22 Aug 2015
Container lines operating between the U.S. East and Gulf coasts and the west coast of South America have announced general rate increases for southbound shipments, despite flat volume through much of the year.
21 Aug 2015
The outlook for Asia-Europe carriers gaining general rate increases of up to $1,000 per 20-foot equivalent units worsened after spot rates this week plummeted in the double-digits from the prior week.
20 Aug 2015
Singapore-based container carrier APL has introduced a new, dedicated intra-Asia service in another sign of the seemingly insatiable demand for services on the trade.
19 Aug 2015
Ocean carrier on-time reliability fell across the three main East-West trades in July for the first time in six months, according to Drewry’s most recent Carrier Performance Insight report.
18 Aug 2015
Several Asia-Europe container lines have announced Sept. 1 general rate increases of up to $1,000 per 20-foot-equivalent unit despite a persistently weak market that has undercut monthly GRIs all year.
18 Aug 2015
The G6 Alliance Tuesday announced it is axing four more Asia-Europe sailings just days after Maersk and Mediterranean Shipping Co. said they will drop one of their joint services on the troubled route that is facing declining demand and slumping freight rates.