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Transpacific Rates Continue to Slide, Xeneta

Market average spot rates from the Far East to U.S. West Coast increased 10 percent by mid-month but steadily declined to US$2,264 per 40-foot equivalent units (or FEUs), said Xeneta, the freight rate benchmarking and market analytics platform. Average spot rates from Far East to U.S. West Coast are now down 59 percent since the market peak on June 5 and are expected to fall further at the beginning of August, ... [+]