Ocean freight traffic slowed over the past week across Asia due to the Labour Day holidays but average freight rates largely held their ground despite the continuing market turmoil triggered by the US tariffs. Transpacific rates bucked the downward pressure as carriers moved swiftly to remove excess capacity that allowed them to secure rate hikes in both the spot and contract markets, although the rate strength is due more to an anticipated cargo surge if a Sino-US trade deal could be reached.