Shipping lines have been in the red in the trans-Pacific trades for months. They may have just inched back into the black again, courtesy of the rise in spot rates over the past five weeks.
Annual trans-Pacific contract rates reset to sharply lower levels in May. Even so, multiple ocean carrier execs insisted on conference calls that they did not sign annual contracts at levels that locked in a year’s worth of losses.
The problem for carriers in recent months: A portion of their trans-Pacific...
https://www.freightwaves.com/news/trans-pacific-spot-shipping-rates-rise-above-contract-rates