Asia-U.S. Rates Jump This Week as GRI Takes Effect

This week, spot container freight rates from Shanghai to U.S. ports saw some of the upcoming general rate increases (GRI) implemented, as both East and West Coast lanes saw increases of more than $100 per FEU. The rate from Shanghai to the U.S. East Coast was $3,287 per FEU, up 3.2 percent ($101) per FEU from last week (reflecting 33.7 percent implementation rate of the GRI.)

The spot rate as indexed by the Shanghai Containerized Freight Index to the U.S. West Coast was $1,931 per FEU, climbing 8.2 percent ($147). This was a 49 percent acceptance rate of the aforementioned $300 GRI. Today’s rate is 6.4 percent ($116)above the Jan. 1 level, but remains down 9.0 percent year-over-year.