Transpacific Spot Rates Remain Steady Ahead of Mid-December GRI

The benchmark spot rates from Asia to North America have continued to remain relatively the same, showing stability in the trans-Pacific trade lane ahead of the Transpacific Stabilization Agreement’s (TSA) mid-November general rate increase (GRI). The spot rate from Asia to the West Coast is $1,891 per FEU, and $4.044 to the East Coast. After the mid-November GRI lost all of it’s gains, TSA members agreed to another rate increase effective December 15th. The group confirmed it will recommend a $1,000 per FEU increase for its carriers, the 11th GRI implemented in 2014.

Additionally, some TSA carriers chose to add port congestion surcharges, on top of the $1,000 per FEU GRI, which went into effect last week. Those surcharges average $800 per 20-foot container (TEU) and $1,000 per FEU. The Federal Maritime Commission (FMC) said 15 carriers agreed to postpone those charges until next year.