Average spot rates on the eastbound trans-Pacific trade surged 20 percent this week as carriers put a peak-season surcharge into effect on June 10.
The Drewry benchmark rate for shipping a 40-foot container from Hong Kong to Los Angeles rose to $2,700 per FEU this week from $2,250 per FEU last week.
The increase indicates that the Transpacific Stabilization Agreement carrier members were able to nail down more than two-thirds of the peak-season surcharge of $600 per FEU that the TSA recommended on May 9.
Carriers have been able to hold on to most of the four general rate increases implemented this year on the eastbound trans-Pacific trade.
With the exception of two weeks when average spot rates eased, pricing has generally held steady since April 15, when TSA carriers put their most recent general rate increase into effect.
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.
This week’s benchmark rate is 52.1 percent higher than the same week a year ago, when it averaged $1,775 per FEU. It is also 88.1 percent higher than $1,436 per TEU in the last week of 2011, before TSA carriers succeeded in implementing the first of three general rate increases on Jan. 1.
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