Shipping’s Mission Impossible? Boost rates as China exports plunge

News Snapshot:

Global shipping continues to struggle to balance the shocks rippling out from the U.S.-China trade war, and recent data reveals contrasting trends in spot shipping rates from the Far East to the United States and European markets. Average spot rates from the Far East to the U.S. West Coast have remained stable at $2,790 per forty-foot equivalent unit since mid-April, according to analyst Xeneta. Similarly, rates to the U.S. East Coast have held steady at $3,830 per FEU over the same period. This stability follows significant declines earlier in the year. Rates to North Europe have experienced a more pronounced...