The Korea International Trade Association (KITA) is reportedly concerned with peak Transpacific freight rates, which have reached levels not seen since 2009.
KITA noted that Transpacific rates have doubled over the last three months, as liner operators have blanked sailings to address concerns over the economic fallout amid the Covid-19 pandemic. There is also speculation that liner operators may be allocating more capacity to China, which is now showing an economic recovery from the pandemic.
Acc...
https://container-news.com/south-korean-authorities-add-their-voice-to-pacific-rate-concerns/