Spot freight rates tumbled for the 6th consecutive week as the SCFI shed a
further 6% last week with more cuts still to come. Carriers failed to push
through a mid-March rate increase, with hopes for an April rate hike also fading
quickly.
Transpacific rates continue to fall sharply, with both the West Coast and East
Coast rates tumbling by more than 6% last week. There is still room for rates to
fall, with spot rates still 10-20% lower than the current SCFI assessments.
Contract rate negotia