Ocean container shipping is running hot on the Transpacific, with offered capacity from Far East to US West Coast hitting an all-time high this week and spot rates showing another double-digit increase.
Philip Hennessey
The Xeneta Weekly Ocean Container Shipping Market Update provides data and intelligence including the latest freight rate and capacity movements across global trades with supporting insight from Peter Sand, Xeneta Chief Analyst.
Xeneta analyst insight
Peter Sand, Xeneta Chief Analyst:
“Ocean container shipping is running hot on the Transpacific, with offered capacity from Far East to US West Coast hitting an all-time high this week and spot rates showing another double-digit increase to now sit +253% compared to pre-Strait of Hormuz crisis at the end of February.
“The combination of record capacity deployment and further rate increases on the Transpacific tells us demand is strong and that carriers are scrambling to satisfy it.
“Double-digit spot rate increases are seen across all major fronthauls from Far East to US and Europe in a clear sign peak season is already here at a global level. Shippers are moving right now to bring goods out of Asia and get them where they need to be ahead of potential further disruption during the peak season and a backdrop of continuing uncertainty in the Middle East. (....)