Transpacific Rates at a Two-Month Low, as Congestion Grows on East Coast

With production in China slowed during the Golden Week holiday and by power restrictions in some areas, and with ocean delays making it increasingly unlikely that shipments not already moving will make it in time for the holidays, transpacific ocean rates stayed level this week after a significant drop a week ago. But rising oil prices could mean that carriers will increase fuel surcharges at the end of the month pushing rates back up.

Despite the current drop, worsening port congestion and delays at LA/Long Beach are still keeping Asia-U.S. prices extremely high, at more than quadruple their level a year ago. The congestion – as well as the sky-high value of an empty container back in Asia – may also be responsible for pushing North America-Asia export rates up more than 10% this week to more than $1,000/FEU from both coasts.

Read more in an article from the American Journal of Transportation.

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