Reported 14 days ago
Container freight rates on key trans-Pacific routes have seen significant declines amidst escalating trade conflicts between the U.S. and China, with rates plummeting by 8% in the past week alone. The recently imposed U.S. port fees on Chinese shipping and corresponding tax measures from Beijing are further complicating the situation, leading to a smaller pool of vessels available for operations and expectations of increased costs for consumers. Analysts highlight that these market pressures may greatly impact shipping dynamics and consumer prices in the near future.
Source: YAHOO