Asia-Us East Coast spot rate climb stalls – but is it just a blip?
Indices appear uncertain how to price spot rates this week, but what seems clear is that the Asia-US East Coast trade’s substantive growth trajectory of recent weeks has hit a bump – the question is whether this is a blip or something more transformative.
According to Drewry’s World Container Index (WCI), spot pricing on its Shanghai-New York routing dropped 2% week on week, hitting $9,333 per 40ft, while the traditionally more resilient Shanghai-LA route went from 9% growth last week to flat this week, at $6,818 per 40ft.
Indications are that the east coast dip may have been something of a blip, Drewry noting it expects resilience in demand, and the ability of the carriers to manage capacity will mean “freight rates remain less volatile next week”.
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