Shippers welcome new ocean capacity, but it won’t stop price increases

In the absence of carrier-led price hikes, container spot rates largely flattened on the transpacific and Asia-Europe trades this week. The one exception was the transpacific Asia-North America west coast trade, which saw a 12% week-on-week increase, according to Drewry’s World Container Index. The WCI’s Shanghai-Los Angeles leg this week finished at $5,750 per 40ft, some 54% higher than the corre **Source:** The Loadstar Read full article →