Critical level approaching for trans-Pacific spot rates

As we approach the end of the first half of 2023, trans-Pacific eastbound spot rates are nearing their year-to-date lows, marking a critical level for ocean carriers.

In conjunction with various factors such as the “bullwhip effect” impacting inventories at major U.S. importers, and a shift in consumer spending patterns, U.S. importers are expected to exercise extreme caution in bringing in new volumes during the second half. This cautious approach, coupled with a weakening global macroeconomic backdrop, intensifies the risks of declining containerized import volumes.

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