About 2.4m TEU still backed up at Shanghai and Ningbo as USWC spot jumps 9%

Summary

Roughly 2.4 million TEU of cargo remained accumulated at Shanghai and Ningbo on 22 August after Typhoon Dolphin, with clearance and equipment repositioning expected to run at least to end-August. Transpacific spot rates rose again, Asia-US West Coast up 9% week on week and Asia-US East Coast a further 3% to a fresh high. Analysts blame supply-side constraints - congestion, typhoon disruption and tighter Panama draft limits - not a demand surge.