Trans-Pacific

Highlighting the buoyant market conditions for the first nine months of 2022, Cosco Shipping said export freight rates on the main trade routes “were maintained at a high level.”

US retailers are forecasting declining imports through the end of the year even though holiday merchandise sales are expected to be strong.

Rates and volume on the major trade lanes out of Asia fell during the third quarter, but not enough to slow OOCL’s revenue growth.

A vigorous blank sailings program on the Asia-North Europe trade lane has yet to stem the rapid decline in spot rates that have fallen more than 50 percent since Jan. 1.