Voluntary rate increases on the part of shippers and freight forwarders have artificially supported freight rates on the trans-Pacific eastbound trade, as market players compete with one another to secure any available vessel slots. “If we offer $10,000 per container to the US East Coast, companies will come and offer $12,000 to $15,000 instead,” a …

The post Voluntary rate increases shove trans-Pacific bookings to fresh highs first appeared on Hellenic Shipping News Worldwide. Source