Retailers are predicting an increase is US consumer spending for the next 6 months due to income growth and low debt. This demand is good news for ocean carriers who are looking to maintain profitable ocean rates this year. February imports were down 7 percent compared to last year due to the later than usual Chinese New Year but March numbers, once finalized, are expected to be much stronger than last year. Carriers are currently wrapping up yearly contract negotiations, rates are expected to settle much higher than the record low rates from last year. Additional details are available at: http://www.joc.com/maritime-news/container-lines/strong-us-import-forecast-could-reverse-trans-pac-spot-rate-slip_20170410.html
Customs & Logistics News Story
Pertains to U.S.
Published in April 20, 2017 issue
Published in April 20, 2017 issue