Eastbound trans-Pac spot rates in revival mode in wake of US-China trade deal

Spot rates in the eastbound trans-Pacific are on a rapid rise as stakeholders on the trade lane expect a significant increase in cargo on the water in the wake of the preliminary tariff deal agreed to last weekend between the US and China.

While various pricing indexes have yet to reflect the post-deal jump in rates, forwarder sources say they are seeing May 15 general rate increases (GRIs) of about $1,000 for both the US West and East coasts, with an expected crunch in vessel capacity and the potential for port congestion driving the gains.

“We know that a lot...

See Article Here: https://www.joc.com/article/eastbound-trans-pac-spot-rates-in-revival-mode-in-wake-of-us-china-trade-deal-6004803?utm_source=Pier-to-pier&utm_medium=Newsletter&utm_campaign=Port-services&utm_content=Email&_hsenc=p2ANqtz-8t84d54krRfukddDPcr4duBeABT9ck1o7xVO_db8ZYkN_jCASjRSuC1iA05FP-spOR5hWbyb7sage9q79B69ATKcGjtxlcIRwmPYvHzSC30eghR0g&_hsmi=361819071&hsCtaAttrib=166206357927