Eastbound trans-Pacific spot rates held steady this week for the fourth week in a row, indicating that carriers are maintaining pricing discipline on the big general rate increase they put into effect on April 15.
The Drewry benchmark for the average spot rate for shipping a 40-foor 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 increase recommended by the Trans-Pacific Stabilization Agreement since the beginning of the year.
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 five weeks since April 15, after which the Drewry benchmark rate jumped 19.9 percent to $2,405 per FEU.
This week’s benchmark rate is 67.2 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.