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Shippers face rate hikes and ‘a classic supply-demand mismatch’ in Q4
Transpacific container spot rates began to tail off after a late peak-season rally that pushed Asia–US east coast rates above $10,000 per 40ft, with the market described as facing a Q4 supply-demand mismatch.
Container spot rates on the transpacific trades began to tail off after a late peak-season pricing rally. On Drewry’s World Container Index, rates from Asia to the US west and east coasts had been rising since the end of August, and last week they breached $10,000 per 40ft to the east coast. The last sailings before China’s Golden Week, which begins on 1 October, have taken place, and spot rates began to ease this week. The report also frames the market as facing rate hikes and a classic supply-demand mismatch in Q4.
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