ocean container spot rates

Trans-Pacific container rates plunge again

Eastbound trans-Pacific ocean container spot rates plunged again this week as container ship capacity on the trade lane recovers and volumes reset at a lower level than they were pre-Lunar New Year.

The Freightos Baltic Daily Index spot rate for China to the West Coast of North America fell from $3,620 per forty-foot equivalent unit to $2,976 per FEU this week, a drop of 17.8%. The rate has come down more than 36% since March 1 as steamship line networks have adjusted and capacity has loosened...

https://www.freightwaves.com/news/trans-pacific-container-rates-plunge-again

Is Wall Street warming back up to containership line Zim?

For nearly two years, capital markets have punished Zim, the Israeli containership line whose fleet is the 10th-largest on the ocean. Zim’s model, which involves operating a subscale, highly chartered fleet of smaller vessels almost wholly exposed to the spot market, took a beating when collapsing spot rates collided with its high COVID-era lease expenses. The stock peaked at $84.50 per share on March 18, 2022, and took a series of nosedives before finally bottoming at $6.59 on Nov. 28, 2023.

Bu...

https://www.freightwaves.com/news/is-wall-street-warming-back-up-to-containership-line-zim

Despite economic worries, more containers flow from China to US

There’s a seeming contradiction in the macroeconomic and trade data coming out of China these days: Despite contracting industrial activity, low consumer confidence and a worsening stock market rout, China is currently sending the highest volume of ocean container freight to the United States since May 2022.

(Indexed ocean container volumes from all Chinese ports to all U.S. ports by day of vessel departure. Chart: FreightWaves SONAR)

Part of the surge in shipments is due to the traditional...

https://www.freightwaves.com/news/despite-economic-worries-more-containers-flow-from-china-to-us

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