Transpacific container spot rates remain high as the contracting season moves into gear; however, new contract proposals from carriers may get the cold shoulder.<\/p>\n
Xeneta\u2019s XSI Asia-U.S. west coast component ticked up 1% last week, to an average of $4,762 per 40ft, which compares with the reading for the same week of last year of just $1,329 per 40ft.<\/p>\n
Meanwhile, reversing consecutive weeks of decline, the Freightos Baltic Index (FBX) Asia to U.S. east coast average spot rate increased 3% last week, to an average of $6,764 per 40ft, more than double the spot rate a year ago.<\/p>\n
With ocean carriers, BCOs, shippers and freight forwarders assembling in their hundreds for the\u00a0JoC<\/em>\u00a0TPM conference in Long Beach in a week\u2019s time \u2013 the traditional start of the transpacific contract season \u2013 the lines will believe they are in the perfect position to push for substantial contract rate hikes.<\/p>\n However, anecdotal reports suggest carrier account negotiators at TPM24, endeavouring to persuade customers to sign up for long-term deals, will be in for a challenging few days across the meeting rooms and halls of the Long Beach convention centre.<\/p>\n