Peter T. Leach, Senior Editor | May 30, 2012 9:55AM EDT
Eastbound trans-Pacific spot rates held steady this week for the sixth week in a row, as carriers resisted any rate-cutting in advance of the June peak season surcharges recommended by the Transpacific Stabilization Agreement.
The Drewry benchmark for the average spot rate for shipping a 40-foot equivalent container unit from Hong Kong to Los Angeles remained at $2,337 this week, holding on to most of the gains that have followed the three general rate increases recommended by the TSA since the beginning of the year.
The TSA members are recommending a peak-season surcharge of $600 per FEU, and proportionate levels for other equipment sizes, that will take effect on June 10.
Since the end of last year, carriers have implemented recommended TSA rate increases of $400 per FEU on Jan. 1, $300 per FEU on March 15, and another $400 per FEU on April 15.
The benchmark rate has fallen only once in the seven weeks since April 15, when the GRI fueled a jump in the Drewry benchmark rate of 19.9 percent to $2,405 per FEU. The benchmark rate eased off in the week of April 23 by 2.8 percent to $2,337 per FEU, where it has remained ever since.
This week’s benchmark rate is 62.7 percent higher than the benchmark rate of $1,436 per FEU in the last week of 2011. It is also 21 percent higher than the rate of $1,932 per FEU in the same week last year.
Contact Peter T. Leach at pleach@joc.com. Follow him on Twitter @petertleach.
