(Mike Wackett – The Loadstar)
A dip in container spot rates is set to weaken the position of ocean carriers serving the transpacific trade as they approach annual contract negotiations.
The Asia-US west and east coast components of the Shanghai Containerized Freight Index (SCFI) declined $193 to $1,771 and $242 to $3,214 per 40ft respectively this week.
The 9.8% and 7% falls follow 6% and 5% drops the previous week and suggest the market has softened at a critical time for carriers. Click here to read more.