THERE are 41 containerships awaiting berths at Los Angeles and Long Beach with indexes showing falling transpacific rates, reports New York's FreightWaves.
'The problem is you can still tell plausible stories in each direction,' said Flexport economist Phil Levy.
'We keep looking for all the signals to line up one way and for something irrefutable to happen. But there continue to be strong signals on both sides,' he said.
Said S&P Global Commodity Insights managing editor George Griffiths: 'At the moment [Asia-West Coast] demand is fairly low, almost unseasonably so,'
'We always see a lull post-Lunar New Year with rates coming off slightly. But this year they have fallen further than they normally do.'
Asia-west Coast rates are assessed at US$8,000 per FEU, down 16 per cent from $9,500 per FEU in early March.
Platts currently puts Asia-east Coast rates at an all-time peak of $12,000 per FEU, up 10 per cent year to date.
SeaNews Turkey
'The problem is you can still tell plausible stories in each direction,' said Flexport economist Phil Levy.
'We keep looking for all the signals to line up one way and for something irrefutable to happen. But there continue to be strong signals on both sides,' he said.
Said S&P Global Commodity Insights managing editor George Griffiths: 'At the moment [Asia-West Coast] demand is fairly low, almost unseasonably so,'
'We always see a lull post-Lunar New Year with rates coming off slightly. But this year they have fallen further than they normally do.'
Asia-west Coast rates are assessed at US$8,000 per FEU, down 16 per cent from $9,500 per FEU in early March.
Platts currently puts Asia-east Coast rates at an all-time peak of $12,000 per FEU, up 10 per cent year to date.
SeaNews Turkey
