Trans-Atlantic eastbound rates grew slightly in the week of March 28, breaking out of a three-week slump, according to the latest release of the World Container Index.
The index rate from New York to Rotterdam edged up 0.1 percent or $1 this week to $1,568 per 40-foot container. Despite the increase, the index still remains 19.2 percent lower than it was at the beginning of 2013. It is now 22 percent lower than it was at this point last year.
The rate in the westbound Rotterdam-to-New York trade lane remained flat at $2,451 per FEU for a fourth consecutive week. The westbound index has shown little movement thus far in 2013, and it has already had stagnant periods of the same length twice since the beginning of December. The rate is just 0.3 percent higher than it was at the beginning of the year, when it was $2,443. It is 0.1 percent lower than it was at this point in 2012, which is the first year-over-year drop in more than six months.
The Transpacific Stabilization Agreement has recommended a $600 per FEU increase to the U.S. East Coast on April 1. Shipping companies such as CMA CGM, Hapag Lloyd and Maersk Line followed by announcing their own rate hikes for trans-Atlantic routes for the same day.