Transpacific spot rates declined for the first time in a month this week, as the threat of a US east and Gulf port strike vanished and the opportunity for pre-Chinese New Year (CNY) front-loading ended.
Meanwhile, significant price discounting continued to be seen on the Asia-Europe trades, with little hope of any recovery before CNY begins on 29 January.
According to Drewry’s latest World Container Index, spot rates on the Shanghai-Los Angeles …
The post As CNY and slack season approach, the ocean price-cutting begins appeared first on The Loadstar.
