Why Are Rates Falling Before Demand?

Busy ports show yesterday’s bookings. Spot rates price tomorrow’s space.

Container spot rates have finally turned lower.

• The SCFI fell 4%.

• China–US West Coast rates dropped 6%.

• Asia–North Europe fell 3%.

Yet July US imports may still hit a record.

Demand has not collapsed.

So why are rates falling before volumes do?

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The simple issue