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Transpacific Carriers Hit by Rate Dip Just as Contracts Are Coming Up for Renewal

(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.

Related: Maersk Says Sanity Is Returning to Shipping as Freight Rates Gain (Bloomberg)