Increase in rates a reaction to lines cutting services
Transpacific box freight rates have continued to creep up in the past week. The World Container Index and the Shanghai Containerised Freight Index’s China-US West coast prices have both moved back above $1,500 per day, while Drewry’s Hong Kong-Los Angeles rate has also taken an upward turn.
The WCI reported a transpacific rate of $1,531 per feu, up $77 from the week before. This was a bigger jump than the $6 improvement in the SCFI’s price for this route, which closed at $1,500 per feu. Read more here.
