Trans-Pacific Spot Rates Surge As Shipping Capacity Diminishes ...Middle East

Shipping lines finally seem to be making some headway in managing vessel capacity in the Asia-U.S. trades. Spot rates have been on the rise for three straight weeks, rebounding to levels last seen in early 2023 and late 2022, according to several index providers. U.S. import bookings remain above pre-COVID levels, and multiple analysts are now highlighting positive rate effects from reduced vessel capacity. Liners managing down trans-Pacific capacity “Typically, higher demand leads to higher capacity availability, but over the past month,…

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