The recent decline in transpacific freight rates could be short-lived because of a fresh outbreak of the COVID variant omicron hitting Ningbo, China -- one of the world's largest container ports.
Transpacific freight rates have dropped to their lowest levels in nearly six months despite a renewed threat to container shipments posed by a fresh COVID-19 outbreak in the city and the fast-spreading omicron variant.
Freight rates between Asia and the US West Coast fell to $12,873 (€11,935) per 40-ft equivalent unit (FEU) on Thursday, their lowest point since July, according to the Freightos Baltic Index (FBX).
