13 June 2023
Freight News

Transpac Rates Head North as Carriers Face Panama Canal Restrictions

Transpacific spot rates from Asia are set to spike as a consequence of industrial action at U.S. West Coast ports and Panama Canal draught restrictions.

And the prospect of a lengthy period of labour unrest at the ports will accelerate the coastal shift of cargo to the U.S. east and Gulf coast gateways.

However, the largest ships deployed on the Asia to U.S. east coast Panama loops are facing new draught restrictions at the neopanamax locks. This will see vessels obliged to transit the waterway with significantly reduced load factors.

Several carriers implemented surcharges from June 1 and there are rumours of specific GRIs being announced for transpacific Panama Canal loops.

Read more in an article from The Loadstar.

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