Trans-Pacific spot rates fell 4.9 percent in the week ended March 14, dropping to $1,693 per 40-foot equivalent unit of containers from $1,781 a week earlier, according to the Drewry Hong Kong-to- Los Angeles Container Rate Benchmark.
By The Numbers: Container Rate Benchmark
The benchmark, which Drewry compiles from data collected from non-vessel operating common carriers in Hong Kong, was 6.3 percent lower than the rate a year ago.
It has been falling ever since it reached $2,838 per FEU on Aug. 1 of last year when container lines put a peak season surcharge into effect.
Eastbound spot freight rates only apply to about 10 percent of trans-Pacific container volume, since most cargo is priced at a rate set under annual contracts that are negotiated in the spring of each year.
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