Trans-Pac spot rate decline signals further weakness ahead


With spot rates in the eastbound trans-Pacific continuing to decline, and import volumes set to drop steeply when Golden Week in China begins on Wednesday, cargo consolidators predict further rate erosion in the coming month.

Spot rates in the Asia-US trade declined for the fourth straight week, according to the Shanghai Containerized Freight Index (SCFI) published Friday under the Shipping & Logistics Pricing Hub. The East Coast rate is 29.3 percent below what it was in Week 39 last year, while the West Coast rate is 43.1 percent lower.