As expected, container spot rates have soared between Asia and the US this week, buoyed by GRIs and radical capacity cuts by carriers.
The Shanghai Containerized Freight Index (SCFI) recorded a massive 24.5% leap in spot rates for the US west coast, to $1,720 per 40ft.
For US east coast ports, rates jumped 16%, to $2,789 per 40 ft.
According to Alphaliner, the Ocean Alliance will have removed over 29,000 teu of capacity …
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Source: The Loadstar
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