Easing volumes especially to the US West Coast are starting hit spot freight
rates with SCFI rates to USWC dropping by 8% last week. Zim’s surprise decision
to relaunch the eCommerce Express (ZEX) service has sparked another round of
rate cuts which has prompted CMA CGM to reconsider its plan to launch a similar
express service in December.
USEC rates are holding their ground as carriers continue to raise concerns over
the Panama canal transit restrictions (in number of containership passage pe