Average weekly capacity on the transpacific has reached another record level of 530,000 teu according to data from Alphaliner this week as Chinese exports peak before the Golden Week Holiday, starting tomorrow.
Both Cosco and Wan Hai have added extra services on the booming tradelane, where rates to the west coast have been hitting record high levels for much of the month.
With rates closing in on $4,000 per feu to the west coast of the US for the first time ever, China’s Ministry of Transport summoned carrier representatives for a meeting earlier this month, demanding more capacity be added on the tradelane. Rates have since plateaued.
