News Snapshot:
Trans-Pacific container spot rates between China and the US West Coast and US East Coast have been on a steady decline since peaking in early January. West Coast rates dropped by 52% and East Coast rates dropped by 50% in March 2022 compared to January 2022 as inbound volumes continue to fall. “As we predicted, we have seen a sharp decline in freight rates in the last three months due to a decrease in sales and full inventories as we enter the traditional post Chinese New Year lean season,” said Shabsie Levy, CEO and Founder of Shifl. Economists from the...
