Transpacific liner rates rise as Asia-Europe weakness deepens
- Shanghai-US west coast rates rose 0.8% to $6,765 per feu, while east coast rates gained 1.4% to $9,700
- North Europe rates fell 3.1% to $4,663 per feu, and Mediterranean prices dropped 6.7% to $5,094
- Eight reporting carriers generated combined second-quarter operating profit of $2.7bn, up 58.2% year on year
Stronger US-bound cargo growth and tight vessel capacity support Pacific prices, while weak European demand pushes Asia-Europe rates down for a seventh consecutive week
