Trans-Pacific Ocean Rates Swing as New Year Looms
The trans-Pacific container market continued its volatile Q4 trend last week, according to analyst Freightos, with West Coast prices rising 8%, or $200, to about $2,100 per forty foot equivalent unit (FEU) as carriers increased blanked sailings during the low-demand period, aiming to partially implement General Rate Increases (GRIs) on a bi-weekly basis.
East Coast rates dropped 3% to approximately $3,000 per FEU, although daily prices this week have risen by $300, and now exceed $3,350.
Freightos (NASDAQ: CRGO) research head Judah...
To Read Full Story Login Below.
Submit comment or question
Note: All comments are displayed with user's screen name. If screen name is not present, user's full name will be used. Please go to My Account to update your screen name.
Comment Policy: Urner Barry has made the comment feature available to encourage further discussion of our news stories. Defamatory or offensive comments, or comments deemed not relevant to the story will be removed, and if necessary, Urner Barry may restrict the right of individual subscribers to offer comments. In all cases, comments represent opinions of the poster only, and do not represent fact, news, opinions or estimates put forward by Urner Barry.
Email Address is required. Password is required.