Container freight spot rates shot up on the transpacific trades this week, with an immediate surge in demand following news of a new 90-day hiatus in the China-US trade war.
This week’s World Container Index (WCI) from Drewry, which records spot rates paid over the past week, showed prices on its Shanghai-Los Angeles leg increase 16% week on week, to end at $3,136 per 40ft, while the Shanghai-New York leg climbed even higher, with a 19% gain on the previous week.
China is actively increasing its presence in the Arctic, using cooperation with Russia as a springboard to consolidate its status as a global power
The continuing upward trend in the volume of transit freight transported along the China-Europe-China route reflects the recovery of traffic and the return of shippers to continental routes.
