Trans-Pacific spot rates jumped 19.9 percent this week, according to the Drewry Hong Kong-Los Angeles Container Rate Benchmark, an indication that carriers’ April 15 rate increases are sticking.
The Drewry benchmark showed non-vessel-operating common carriers reported paying $2,405 per 40-foot container, up from $2,005 last week and 67.5 percent above the $1,436 rate in December. The latest week’s rate was up 34 percent from a year earlier.
Philip Damas, director of London-based Drewry Supply Chain Advisors, said the sharp increase shows the $400-per-container general rate increase carriers announced for April 15 is holding. The increase followed a $300-per-box increase on March 15.
Carriers have been ratcheting up rates this year in an effort to stanch renewed losses estimated at more than $6 billion worldwide last year.
By The Numbers: Drewry Container Rate Benchmark.
Damas, however, warned the latest increases may be enough to encourage the return of inactive ship capacity and “weaken the pricing discipline of carriers in the trans-Pacific, at least as far as the spot market is concerned.”
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