Westpac International Logistics Co., Ltd.

Asian Stocks Follow Wall St Higher Ahead of Fed Chair Speech

Charity Stella Maris has found itself providing support for seafarers stuck on board vessels in the Port of Felixstowe during an eight-day strike by dock workers.

The CEO and founder of FreightWaves made this bold prediction on Twitter: By November, the cost of shipping a container from China to the U.S. West Coast will drop to $3,900, down more than 80% from a peak of $20,586 set a year ago. Spot container rates for trans-Pacific trade fell another 5 per cent last week, according to Drury.

Freight rates for reefer containers in global trade rose more than 50 per cent in the second quarter of this year, matching increases in dry goods pricing, and are expected to rise further in the third quarter to exceed dry container rates.