Transpacific trade truce comes too late for spot market
With shippers already frontloading ahead of proposed tariffs, there will still be a cargo shortfall in the new year and downward pressure on rates. Forecasts for a drop in China-US spot rates to $1,900 at the start of 2019 remain unchanged
MSI analyst Daniel Richards says that with shippers already putting their pre-tariff plans into action, the damage to the transpacific has already been done
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