News
Carriers Cancel Rate Hike Plans for US West Coast
7/10/202677 views
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:
- US West port efficiency improved
- Some shippers switching to stable Matson channels
- New vessel deliveries increase capacity
- Consumer demand stabilizing
De Zong Logistics advises clients to monitor market and plan shipments accordingly.