The Shanghai Containerized Freight Index saw slight drops in the week of March 22 in U.S.-bound TransPacific lanes, according to data issued by the Shanghai Shipping Exchange.
Spot rates to the U.S. East Coast slipped 1 percent or $32 per 40-foot container to $3,247. This is the eighth straight week of declines, with rates falling 11.5 percent or $423 over the period. Rates are up a little over 1 percent from the same week in 2012 but down 3.3 percent since the beginning of 2013.
Rates to the U.S. West Coast inched down 0.8 percent or $18 to $2,104 per FEU. In this lane, rates have fallen 16.5 percent or $416 over the past eight weeks. The current rate is a 4 percent increase over the same week in 2012, but is down 5.3 percent since the beginning of 2013.
There is a GRI planned for April 1 that will aim to add $400 per FEU for shipments from Asia to West Coast ports and $600 per FEU to all other destinations.