Against the backdrop of an escalating US-China trade war, transpacific ocean carriers have had some success this week in lifting spot rates between Asia and the US west coast. 
There was also a spike in long-term contract rates recorded this month that will be welcome news for the loss-making container lines. 
The Shanghai Containerized Freight Index (SCFI) recorded a 13.7% jump today for US west coast spots, to $1,471 per 40ft, in reaction to blank sailing announcements from carriers …

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Source: The Loadstar