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Spot rates on the trans-Pacific have dropped nearly 20 percent in the two weeks following a historically high general rate increase, new data from Drewry Maritime Research shows.

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Buenos Aires' newest container terminal opened for business this week, amid declining volumes at the port in Argentina's largest city.
The steep fall of bunker fuel in recent months prices slowed over Christmas week, though the price per metric ton still continued to drop.
The Kenya Ports Authority is seeking operators for a new, $300 million terminal at the Port of Mombasa.
APM Terminals, Port Elizabeth, NJ
Most terminals at the Port of New York-New Jersey will not extend gate hours in anticipation of cargo backlogs from the New Year holiday, the port authority announced today.
The Nigerian Shippers Council hopes its new regulatory powers will help bring Nigerian ports up to global standards by ensuring concessions are awarded fairly.
The Port of Oakland will open a gate on Sunday and begin sending operational status updates to harbor truckers in order to reduce truck congestion.
Bunker prices sank an additional 8 percent last week, as a six month spiral has now led to a 50 percent decline in fuel prices.
Though many retailers initially began the holiday season with early shipping deadlines, shops clamoring for last-minute customers are testing fate with extended deadlines once again.
Strong monthly volume growth at the Port of Tacoma came to an abrupt halt in November, when the port, plagued by labor productivity issues, saw international container volumes plummet 14.1 percent...