News Snapshot:
Trans-Pacific container spot rates between China and the U.S. West Coast and U.S. East Coast have been on a steady decline since peaking in early January. West Coast rates dropped by 52 percent and East Coast rates dropped by 50 percent in March 2022 compared to January 2022 as inbound volumes continue falling. “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...
