Trans-Pacific spot rates have pared earlier gains and remain at loss-making levels. Demand has yet to rebound.
Flexport projects trans-Pacific contract rates will decline around 70% from 2022 levels but still be around 30% above current spot rates.
New bookings data suggests volume softness is here to stay.
Supply-demand dynamics that supercharged pandemic-era rates are now “exactly the opposite,” says Maersk CEO Soren Skou.
President Biden underscored his support for ocean shipping reform as he prepares to speak at the Port of LA. Here’s a rundown of major efforts the administration has taken to date to ease supply chain disruption.
The trans-Pacific container trade is vastly different than pre-pandemic, with more ships, more competition, and a new leader: Maersk.
Long-term contract rates are at record highs. Shipping lines hold all the cards at the negotiating table.
SoCal imports suffering multimonth slide, not because of falling demand, but because of supply chain bottlenecks.
Ocean cargo shippers are paying more than they ever have before for the worst service they’ve ever experienced.
Pullback in trans-Pacific shipping rates: beginning of the end or brief reprieve with end still not in sight?
Trans-Pacific traffic snarl is bicoastal: More container ships waiting off Shanghai and Ningbo than Southern California.
Supply chain crisis deepens as more imports snared in historic ship queue off Los Angeles/Long Beach.
As stimulus-fueled demand overwhelms trans-Pacific capacity, a widening freight spread leaves small shippers behind.
Port of Los Angeles boss warns: ‘Anchorage and dwell times are trending in the wrong direction.’
A year and a half after COVID emerged in Wuhan, China’s exporters, liners, shipyards and container factories are all booming.
How bad is it? A Vietnam-New York slot was just offered at $19,000 per FEU, reveals Flexport’s Nerijus Poskus.
Container rates are in uncharted territory. If demand continues to outpace supply, there’s little to stop them from ascending further.
West Coast congestion could last into the fall as retailers face stockouts on essential goods, says ocean carrier Matson.
Trans-Pacific container crunch is about to become even more severe, warns Flexport, with May sailings now effectively sold out.
How does California congestion rank versus 2015 logjam caused by tensions with dockworkers union? It’s not even close: 2021 wins by a long shot.
Here’s a helicopter view courtesy of U.S. Coast Guard of container-ship armada off Los Angeles and Long Beach (WITH VIDEO).
Container lines score huge negotiating advantage as spot-rate surge set to persist through annual contract season.
Asia-U.S. liner sailings are now being canceled because too many container ships are stuck at anchor off California.
There are more container ships stuck off California than at any time since 2004. What’s behind the pileup? When can it be cleared?
Asia-U.S. container rates had held firm at a record high since September. Now they’re on the move again — and headed even higher.
Container imports far exceed sales, raising concerns that 2020’s transport binge could lead to a big headache in 2021.
The trans-Pacific surge will persist through Q1 and January could see all-time-high container volumes, predicts Flexport’s Nerijus Poskus.
Trans-Pacific spot index rates haven’t budged from the same peak band for the past 10 weeks. How is this possible in a competitive free market?
There will be no letup in booming container imports in 2020. The only question now is how long it lasts into 2021.
Hapag-Lloyd sees strength until “at least Chinese New Year” and a challenge to “get containers where they need to be.”
There are not enough containers in China to handle all the U.S.-bound cargo — and box factories are now sold out into Q2.
U.S.-listed carrier reveals the latest on trans-Pacific holiday rush, restocking, e-commerce spike and port congestion.
The trans-Pacific market is bursting at the seams as shippers rush in holiday cargoes.
‘Get ready for the biggest restocking cycle on record,’ says Jefferies.
China could decide enough is enough if trans-Pacific rates rise too high.
Hong Kong-based 3PL’s warehouse business suffers from shrinking inventories, but forwarding business saves the day, leading to $109 million first-half profit.
E-commerce and coronavirus fallout are buoying container services from Asia to the West Coast.
New data reveals third-quarter ocean schedules still largely intact — a positive sign on cargo bookings.
Phase One of the U.S.-China trade deal is scheduled to take effect Wednesday. Read CNBC’s Lori Ann LaRocco’s take on how that trade has changed since the tariff war began — and how it may never be quite the same.
