Asia to US freight rates have peaked after carriers rolled back the increases from the last 2 weeks as the new Transpacific capacity injections have exceeded market demand, especially to the Los Angeles/Long Beach PSW gateway where carriers are struggling to fill the ships. Although PNW and US East Coast capacity remains tight, it will not be enough to push through a fresh round of rate increases in mid-June as the carriers focus on holding their recent gains. Carriers’ initial exuberance has be
With container equipment currently in short supply, the production of new dry container equipment has surged since the end of last year. New dry box production surged to 520,000 teu in April alone, 3 times higher than the 2023 monthly average with new factory production fully booked until the end of July. New box production expected to exceed 4m teu this year compared to 1.97m teu in 2023. The record production year was in 2021 when more than 6m teu of new boxes were delivered.