Loading…
Asia-to-US container spot rates topped $4,000 per 40ft to the US West Coast and $5,000 to the East Coast despite warnings from China and the US Federal Maritime Commission. Cosco and OOCL cancelled their increases and reinstated blanked sailings, while CMA CGM, MSC, ONE and Zim kept their full general rate increases.
The Shanghai index hit a record $3,867 per 40ft for the West Coast.
Record container rates and regulatory pressure on carriers reflect tight transpacific capacity. Grain and feed ingredient freight is largely separate, so the direct effect on feed prices is limited.
theloadstar.comMike WackettSep 18, 2020Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
