NEWS-DEZONG | July 9, 2024 | Tuesday Headlines

Multiple Carriers Reduce US West Coast Rates

Cross-border logistics market sees major changes! Carriers planning to raise US West rates have canceled or postponed their plans.

Rate Adjustment Details

• Maersk: Suspended planned GRI increase
• MSC: Reduced US West rates by about $200/FEU
• CMA CGM: Maintaining current rates
• COSCO: Small reduction in US West quotes

Market Analysis

Analysts suggest this reflects subtle supply-demand changes:

1. US West port efficiency improved
2. Some shippers switching to stable Matson channels
3. New vessel deliveries increase capacity
4. Consumer demand stabilizing

De Zong Logistics advises clients to monitor market and plan shipments accordingly.