China-U.S. West Coast container rates continue their astonishing climb. Not because of too little vessel supply, but because of too much import demand. U.S. import demand that is not surging despite of coronavirus, but because of it.
“The trans-Pacific eastbound market is going crazy,” exclaimed Nerijus Poskus, vice president and global head of ocean freight at digital freight forwarder Flexport. Current dynamics are unprecedented, he said in an interview with FreightWaves on Wednesday.
“All of...
https://www.freightwaves.com/news/trans-pacific-going-crazy-as-demand-defies-pandemic-pessimists