Trans-Atlantic carriers failed to achieve a general rate increase set for April 1 between Northern Europe and the U.S. East Coast. Carriers such as CMA CGM, Hapag Lloyd, APL and Maersk Line announced rate hikes of between $200 and $300 on eastbound lanes and $300 and $500 westbound. While eastbound rates did increase $148, a portion of the proposed GRI, westbound rates actually fell $40, showing that the market could not sustain such an increase.
Rates from Rotterdam to New York fell 1.6 percent this week to $2,411 per 40-foot container, according to the latest release of the World Container Index. They had been stuck at $2,451 for the past four weeks. The rate is 1.3 percent lower than it was at the beginning of the year and 5.5 percent lower than it was at this point in 2012.
Trans-Atlantic eastbound rates had a 9.4 percent jump in the week of April 4, which was their first increase since mid-January 2013 and their largest increase since the beginning of 2012. The rate from New York to Rotterdam rose $148 to $1,716 per 40-foot container. Despite the increase, the index still remains 11.5 percent lower than it was at the beginning of 2013. It is now 17 percent lower than it was at this point last year.