Trans-Atlantic shipping sinks as trans-Pacific soars
from American Shipper
It's a tale of two oceans for U.S. container imports. Freight rates for Asian exports crossing the Pacific are reaching new heights even as fleet capacity rebounds. Rates for European exports crossing the Atlantic are sliding even as fleet capacity remains constrained. Prior to the coronavirus, the secular shipping pendulum was swinging toward the East Coast ports. Now, the pendulum is swinging back — at least temporarily. The West Coast is seizing a bigger share of U.S. imports in the COVID era.
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