February 3, 2021 – Spot rates on the transpacific trade lane remain stratospheric. Liners are cancelling voyages this month due to the port crunch on the U.S. west coast, pushing even more volume to the months after Chinese New Year. It now appears spot rates will remain strong all the way through the second quarter. They may ebb from current highs, but they almost certainly won’t crash. This is exactly the scenario U.S. importers feared. They will have to negotiate their annual contracts – which generally expire by May 1 – in the midst of a spot-rate boom.