Trans-Atlantic rates from New York to Rotterdam increased $44 per 40-foot container in the week of July 4, following general rate increases of $200 and $150 per FEU by Maersk Line and Hapag-Lloyd, respectively, implemented on July 1, according to the latest release of the World Container Index. Despite July 1 increases imposed for the westbound trans-Atlantic — hikes of $200 per FEU by CMA CGM, Maersk Line and Hapag Lloyd — westbound rates continued to decline.
Eastbound rates from New York to Rotterdam in the week of July rose 2.8 percent from the week before to $1,627 per FEU, according to the World Container Index. During the past month, rates had seen little movement, remaining flat for two weeks and inching down 0.6 percent in the week of June 27. The increase in the July 4 week put the rate at its highest since May 2.
The last time rates in the eastbound trans-Atlantic increased more than 2 percent was after the April 1 GRI, when rates soared 9.4 percent or $148. Rates then held for a few weeks, but then began slipping and lost nearly all of the increases June 27, when rates stood only $15 above where they were before the April 1 GRI. The current rate is down 21 percent year-over-year and 16 percent or $313 from the beginning of 2013. Rates have been down year-over-year for the past 18 weeks.
The westbound trans-Atlantic rate from Rotterdam to New York inched down 0.2 percent or $3 to $1,965 per FEU in the week of July 4. There have been a few slight sporadic rate increases during the past few months but these were unable to hold, and currently sit at their lowest point since the JOC began collecting this data in June 2011. July 4's rate is down 19.6 percent or $478 from the beginning of 2013 and off 26 percent year-over-year.