Trans-Pacific Rates To Rise With Mid-May GRI

The benchmark rate for shipping from Hong Kong to Los Angeles was flat last week, but the analyst anticipates a short-term boost around the general rate increases planned for mid-May.

The Hong Kong-to-Los Angeles rate remained flat in the week of May 7, at $1,850 per FEU. The rate is down 1.9 percent or $36 per 40-foot container from Jan. 1 of this year, and down 9.0 percent or $182 per FEU compared to the same week last year.

In the two weeks before, the Hong Kong-to-Los Angeles rate lost nearly all of the $129 gained from the mid-April GRI.

TSA carriers in the eastbound Pacific will implement another general rate increase of $300 per FEU, effective May 15The carriers also announced a peak-season surcharge of $400 per 40-foot container, effective June 15. Stay tuned for more updates.