Cargo Spot Rates Drop Across All Major Trade Lanes

Earlier this week, spot rates dropped across all major trade lanes, despite stable U.S. trade due to a healthy peak season and the carrier’s September 1st general rate increase (GRI). Asia to northern Europe saw rates drop by 6.6 percent this week, down $74 to $1,055 per 20-foot container (TEU). The spot rate is still 9.2 percent higher than the same week of 2013. Asia to Mediterranean dipped 8.7 percent ($130) to $1,357-per TEU. However, this week’s rate was 34.9 percent higher than the same week in 2013.

U.S. West Coast and East Coast spot rates also took a tumble despite GRIs imposed by carriers on September 1st. Hong Kong to Los Angeles benchmark spot rate dropped 8.8 percent this week to $2,075 per 40-foot container (FEU). While that rate is 10 percent higher year-over-year, the $200-per-FEU loss eliminated all of the $300 gained by trans-Pacific carriers after the $600-per-FEU GRI earlier this month. East Coast spot rates saw the smallest decrease, lowering 2.4 percent to $4,524 per FEU. This is largely due to strong peak season volumes partially from diverted West Coast traffic, and the September GRI of $292 per FEU. This week’s spot rate registered at $4,524 per FEU, 2.4 percent lower than the previous week. The rate is 36 percent higher than the same week of 2013.

This entry was posted in Blog. Bookmark the permalink.

Leave a Reply

Your email address will not be published. Required fields are marked *


119,013 Spam Comments Blocked so far by Spam Free Wordpress

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>