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Container shipping spot rates in the trans-Pacific trade started to rise in late June and remain near their highs for 2023. The question is: How much of this rate gain is driven by peak-season demand, and how much by shipping lines intentionally constraining capacity?
U.S. import numbers confirm that at least some of this rate gain is demand-driven.
On Monday, Descartes reported that U.S. ports imported 2,196,268 twenty-foot equivalent units in August, up 0.4% from July and 5.5% from June. This August’s volumes were 2.5% higher than volumes in August 2019, pre-COVID.
Read more in an article from American Shipper.