Transpacific rates continued their decline over the past week, with carriers forced to undercut rates on both the West Coast and East Coast as capacity utilization levels are still dropping. There will be some capacity reductions over the coming weeks, with carriers expected to obtain a $200-300/feu rate increase in early July but the sustainability of the rate increase remains in doubt after the failure of the last 4 transpacific GRI attempts. Asia-Europe rates continued to slip despite relat