Transpacific ocean rates ease slightly as peak winds down

Slowing demand at U.S. ports is helping ease rates, but costs remain elevated on a year-over-year basis.

Freightos said slowing demand could be one factor helping ease rates. Peak season is winding down, although volumes are still strong, according to the Global Port Tracker from the National Retail Federation and Hackett Associates.

A combination of higher diesel costs and the looming November expiration date for a since extended U.S. and China trade war truce led to some frontloading at certain ports such as the Port of Los Angeles. Demand is expected to ease as retailers have shipped most of their holiday merchandise, according to NRF VP for Supply Chain and Customs Policy Jonathan Gold.

[R]etailers are working closely with their supply chain partners to ensure that the supply of holiday gifts continues to flow smoothly,” Gold said in a press release.

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