The push and pull of US support for decarbonization efforts puts a question mark over potential project cargo demand.
While vessels on the lead West India–US East Coast networks have continued to sail full, forwarders have linked the “sold-out” experience to capacity cutbacks and consequent cargo rollovers.
The fresh capacity carriers rushed into the US’ busiest trade lane in April and May is no longer needed, sending rates on a downward spiral and forcing carriers to shelve proposed price hikes.