Ocean rates are still on a downward trajectory although the sharp decline from last week has levelled out as the February 17 start of the Chinese New Year approaches.
According to Gavin van Marle, managing editor of The Loadstar , Asia rotations connecting Europe, North Europe, the Mediterranean, and both coasts of the US decreased by 5, 6, 4 and 7 respectively.
Speaking on a weekly podcast hosted by the supply chain title, he said: The pre-Chinese New Year rush is over. Freight forwarders in Europe are readying for steeper declines once the actual holidays themselves are over.
