Transpacific Container Trade Bounces Back At The Beginning Of 2024

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Transpacific eastbound box volumes have rebounded by 16.9% in January 2024 and full-year volumes are expected to record positive growth again after falling by 15.1% last year, according to the latest report by Lynerlytica.

Trans Pacific takes advantage

The logistics consultant said trans pacific carriers have been able to take advantage of the strong cargo rebound with freight rates more than 200% higher compared to last year.

Major ocean carriers

The major three ocean carriers, COSCO, CMA CGM and Evergreen, have managed to retain their positions in the first month of the year, and all three are members of the OCEAN Alliance who are poised to strengthen their dominance on the Transpacific trade with the imminent split of the 2M and departure of Hapag-Lloyd from THE Alliance in 2025.

The rebound in transpacific demand has also provided another reason for optimism that will keep the overall capacity tight at least for as long as the Red Sea diversions persist, according to the consultancy firm.

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Source : Container news