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Spot rate spread for east and west coasts narrows 36pc
来源：shippingazette 编辑：编辑部 发布：2023/01/27 11:38:18
TRANSPACIFIC spot rates to the US east and west coasts via the eastbound Pacific have contracted 36 per cent since December 1, reports New York's S&P Global Media.
A spread that was US$2,369 just over six weeks ago has been shaved to $1,520 as of January 12, according to Drewry¡¯s World Container Index, about $500 higher than the pre-pandemic norm of a $1,000 differential.
The narrowing comes as spot rates to the east coast have fallen by 18 per cent during that time while west coast rates have ticked slightly higher.
Volumes to both coasts are expected to fall over the next several months on a year-on-year basis, US retailers say, starting with factories in Asia shutting down for an extended Chinese New Year break that will last into February.
"It will be pretty soft for the next six to eight weeks," David Bennett, chief commercial officer at the non-vessel-operating common carrier Farrow told New York's Journal of Commerce.
Beyond that, import volumes are expected to remain at pre-pandemic levels into spring because retailers must eliminate their inventory overhang to make way for spring and summer merchandise.
"What we're hearing from Gemini customers is, 'Our volumes have dropped crazily. They are not being replenished and there are still tons of stock at our shippers' warehouses and facilities," said John Westwood, director of procurement and product at Gemini Shippers Group.
A spread that was US$2,369 just over six weeks ago has been shaved to $1,520 as of January 12, according to Drewry¡¯s World Container Index, about $500 higher than the pre-pandemic norm of a $1,000 differential.
The narrowing comes as spot rates to the east coast have fallen by 18 per cent during that time while west coast rates have ticked slightly higher.
Volumes to both coasts are expected to fall over the next several months on a year-on-year basis, US retailers say, starting with factories in Asia shutting down for an extended Chinese New Year break that will last into February.
"It will be pretty soft for the next six to eight weeks," David Bennett, chief commercial officer at the non-vessel-operating common carrier Farrow told New York's Journal of Commerce.
Beyond that, import volumes are expected to remain at pre-pandemic levels into spring because retailers must eliminate their inventory overhang to make way for spring and summer merchandise.
"What we're hearing from Gemini customers is, 'Our volumes have dropped crazily. They are not being replenished and there are still tons of stock at our shippers' warehouses and facilities," said John Westwood, director of procurement and product at Gemini Shippers Group.