Trans-Pacific Spot Rates Hold Ground

Trans-Pacific spot rates eased last week after the nearly 20 percent spike the week prior, following the rate hikes by the shipping lines members of the Westbound Transpacific Stabilization Agreement (WTSA).

The Container Rate Benchmark slid by 2.8 percent, settling at an average of $2,337 per 40 foot equivalent (FEU) container from Hong Kong to Los Angeles.  The spot rate is 30.2 percent higher than it was a year ago ($1,795), and 62.7 percent higher than the $1,436 per FEU benchmark in the final week of 2011.