US east coast

Transpacific rates take a tumble as trade war ripples spread

Efforts to push rates up on Asia-North Europe trades are still failing, and carriers are now also beginning to feel the pinch from the China-US trade wars.
The Shanghai Containerised Freight Index (SCFI) today recorded spot rates for North Europe virtually unchanged, up just 0.2% to $812 per teu.
While this modest increase will allay some of concerns, there have been significant efforts to push rates up, with carriers removing a reported …

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Peak season capacity cuts hit home as Asia-Europe spot rates edge back up

After weeks of erosion, Asia-North Europe container spot rates appear to have responded to peak season capacity cuts and are edging back up. 
The North Europe component of today’s Shanghai Containerized Freight Index (SCFI) recorded a 12.2% increase in rates to $754 per teu, while rates for Mediterranean ports were up by a more modest 3.3%, to $718 per teu. 
Asia-North Europe ocean carriers serving the route have withdrawn some 150,000 teu of capacity this month …

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https://theloadstar.com/peak-season-capacity-cuts-hit-home-as-asia-europe-spot-rates-edge-back-up/

Drought forces Panama Canal draught restrictions and pushes up rates

El Niño is having a major impact on container traffic through the Panama Canal this year.
From May 28, the canal operator is going to reduce the draught at its Neopanamax locks to 43 feet, the latest in a series of depth reductions that have brought the permitted level down from 50ft at the beginning of the year. 
The region is suffering from a protracted drought that has decimated the water in a lake …

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