NEWS: The Loadstar - Declining Asia exports, a blow to Transpacific shippers

The Loadstar
 

China’s May Day holiday, lasting five days from Saturday, will delay liner operators’ planned rate increases, and cargo volumes ex-Asia have dipped below expectations, further hampering contract negotiations with transpacific shippers.

Shipping line hopes were raised on 14 April, when the Shanghai Containerised Freight Index showed Asia-US west coast rates had hit a five-month high of $1,668 per feu, capping four consecutive weeks of increases.

The Asia-US east coast rate had also risen, by nearly 20% from 7 April, to $2,565/feu, however, last Friday, both rates dipped 2%, to $1,633 for Asia-USWC and $2,510 for USEC.


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