A divergence in container spot freight rates between the Asia-Europe and Asia-North America trades emerged this week, with pricing declines into Europe getting sharper, while rates to North America strengthened, week on week.
Market sources believe it was the widespread reduction of capacity through aggressive blanked sailings that prevented transpacific rates from crashing through the floor, and this week’s Drewry’s World Container Index’s (WCI) Shanghai-Los Angeles leg was up 5% week on week, to hit $2,713 per 40ft.
Over the past decade, the network has expanded rapidly
For more than a year, the whole world has been living with COVID-19 and related restrictions. The coronacrisis had a huge impact on the transport and logistics industry represented by sea, rail and air cargo transportation. Some of them continue to be in crisis mode, while others have become beneficiaries of the crisis.
