Freight rates on the transpacific soar as lines axe sailings

Container lines in the transpacific trades have obtained big freight rate increases after axing several ­sailings.

The most significant rises have been on the trade from China to the US West Coast (USWC), where rates rose by up to 25%, according to the Shanghai Containerised Freight Index.

Rates from Shanghai to the USWC rose by $338 to $1,720 per 40-foot (feu) container, while rates to the US East Coast rose by $384 to $2,789 per feu.