Transpacific freight rates have continued to drop, but latest SCFI rates have
not fully reflected the current market rates that are already $200-300 lower
than reported, with rates to the West Coast reaching $1,500 while the the East
Coast market is even weaker with rates as low as $2,000 are being offered.
Although THE Alliance have announced the withdrawal of the PN3 service in
October, the impact is limited as it only accounts for 3% of total capacity on
the West Coast. Carriers have not adj