July 31
Transpac rates at new heights, but reviving blank sailings could muddy the water
Transpacific container spot rates to the US west coast have powered over the $3,000 mark to hit a record level of $3,167 per 40ft.....MORE
The US west coast component of today’s Shanghai Containerized Freight Index (SCFI) soared 17% on the back of 1 August GRIs and is now 100% higher than a year ago.
The spot rate surge represents the highest SCFI reading for the west coast in the decade-long history of the index – and the rate could go higher still in the coming weeks.
After a quartet of successful GRIs, carriers are readying for a fresh, mid-August, onslaught of $1,000-plus increases on the strength of a robust demand outlook for the month.
However, the rush by carriers to reinstate blanked sailings on the route could pour cold water on their prospects....
Also at Freightwaves, air cargo rates are still pretty healthy:
I didn't know that was even legal.
