Average ocean container spot rates from Asia to the U.S. West and East Coasts have remained unchanged since mid-April, at $2,790 and $3,830 per forty-foot equivalent unit, respectively. Year-to-date, rates have dropped 52% for the West Coast and 44% for the East Coast. A significant increase in blank sailings from China, due to heightened tariffs, has contributed to this plateau in rates. Freight demand from China has decreased by 30% to 50%, prompting carriers to cut capacity. Experts suggest that the current stability may be short-lived as downward trends are likely to resume.

Source: https://www.supplychaindive.com/news/ocean-rates-flat-blank-sailings-china-rise-freightos-xeneta/747412/