Trans-Atlantic eastbound rates stagnated for the second consecutive week, according to the latest release of the World Container Index.
World Container Index Rates Between New York and Rotterdam
Rates from New York to Rotterdam were flat at $2,028 per 40-foot container this week, where they've been stuck since rising $15, or 0.7 percent, during the second week of February. The eastbound index held at 4.5 percent higher than it was at the beginning of 2013 and 4.8 percent higher than it was at this point in 2012.
Rates in the westbound Rotterdam-to-New York trade stayed at $2,393 per FEU for the fourth straight week. The westbound index is 2 percent lower than it was at the beginning of 2013 but 9.2 percent higher than it was at this point in 2012.
These rates may not stay constant for long, as the Transpacific Stabilization Agreement plans to enact a $600-per-FEU increase to the U.S. East Coast on April 1. Shipping companies such as OOCL, CMA CGM and Maersk Line followed by announcing their own rate hikes for trans-Atlantic routes for the same day.
OOCL will increase eastbound dry and reefer cargo by $100 per 20-foot container and $200 per 40-foot and 45-foot container and westbound dry cargo by $300 per 20-foot container and $400 per 40-foot and 45-foot container. CMA CGM will increase rates on dry and reefer cargo westbound from North Europe by $250 per 20-foot container and $350 per 40-foot container. Maersk will increase eastbound and westbound cargo by $200 per 20-foot container and $300 per 40-foot and 45-foot container.