Make it make sense: Low demand, rising rates on the trans-Pacific

The stalemate in the Iran war has been anything but for ocean container spot rates on the trans-Pacific. While there has been little diplomatic progress between Washington and Tehran toward ending the conflict, the ongoing blockade of the Strait of Hormuz by United States forces has been fueling (pun intended) higher ocean prices during a traditional lull prior to the start of the peak shipping season. Asia-U.S. West Coast spot rates increased 1% to $2,675 per forty foot equivalent unit (FEU), a...