Trans-Pacific Spot Rate Jumps Over $2,000

(Journal of Commerce Online – Peter T. Leach)

Push on May 1 may drive higher rates in contract market segment

The spot rate for shipping a 40-foot container from Hong Kong to Los Angeles jumped to $2,189 per FEU in the week ended May 3, according to data collected by Drewry Shipping Consultants.

The Drewry container rate benchmark for the trans-Pacific route was 10.8%, or $213 per FEU, higher than the average rate of $1,976 per FEU recorded in the week ended April 26 and over $2,000 per FEU for the first time since February, as tracked in the Journal of Commerce container rate benchmark over the past year. Read more here.