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China-US ocean rates climb even with China intervention

from Llolyd's Loading List

Despite moves by China's government to stabilise ocean freight rates on key transpacific container shipping markets, China-US ocean rates climbed to new records during the past week, with West Coast rates approaching $4,000 per FEU — nearly triple their level a year ago, according to digital rates specialist Freightos. It noted that strong demand for trade on the China-US lanes, together with restricted capacity early this summer, had combined to send ocean rates to record highs. more

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