Freight Rates Begin to Rebound

Ex-Asia ocean rates climbed across the board last week on early-month GRIs and further capacity reductions, according to cargo marketplace Freightos. Transpacific prices increased 3% to the West Coast to about $1,600/FEU, 12% higher than in 2019, and 7% to the East Coast to $2,357/FEU, a level still 14% lower than pre-pandemic. The Panama Canal…

The post Freight Rates Begin to Rebound appeared first on EPS News.