Trans-Pacific cargo rolled on spot rate strength and late peak-season surge

US importers are riding an increase in rolled cargo, as trans-Pacific eastbound spot rates hold at levels at twice that of some contracted prices and vessel utilization inches up on a late peak-season surge.

While the increased freight rates provide a measure of relief to an ocean carrier industry that is expected to loose as much as $10 billion globally this year, it is uncertain how much longer the current peak-season conditions in Asia-US trade will last. Some carriers are telling shippers that cargo will keep getting rolled through the month, while others are warning to expect spot rate cargo to gain preference over contracted cargo into November, a handful of US importers told JOC.com.

To read more, visit the Journal of Commerce.