Transpacific spot rate index suffers largest-ever weekly decline
- SCFI Shanghai-Los Angeles index falls to $4,120 per feu, plunging $1,486 per feu or 27% versus the previous week, the largest fall since SCFI began publishing in 2009
- SCFI global composite declines for the first time in six weeks
- Spot assessments from Drewry and Xeneta show levelling off of Asia-US rates
The hope among liner stock investors was that lower US tariffs on Chinese goods would unleash a flood of cargo, spurring a Covid era-like surge in transpacific rates. But the upside looks like it will be fleeting this time around
