Average eastbound spot container rates in the trans-Pacific for the week of Aug. 7 held onto the $200 per 40-foot-equivalent-unit increase achieved the week before because of a planned Aug. 1 rate increase. The Drewry Hong Kong-Los Angeles container freight rate benchmark remained at $2,136 per FEU for the week of Aug. 7.
“Drewry's Hong Kong-Los Angeles container freight rate benchmark held on to the gains achieved from the Aug. 1 peak-season surcharge. However, Drewry expects pricing to remain under pressure in the coming weeks before carriers attempt to lift rates again in September,” Drewry said in its release.
Carriers achieved approximately half of the peak-season surcharge of $400 per FEU proposed by the Transpacific Stabilization Agreement in the week of July 31. Further increases of $400 per FEU have been announced for Sept. 1 by Maersk and Hapag-Lloyd.
This week’s benchmark is 26 percent below the rate in the same week last year, when it was $2,880 per FEU, and 3.5 percent or $78 down from the $2,213 per FEU level at the beginning of this year.