Trans-Pacific Carriers Secure Small Portion of Aug. 1 Rate Increase

Average spot rates on the eastbound trans-Pacific increased by 3 percent this week, or $71 per 40-foot-equivalent container, indicating that carriers have only been able to nail down a small portion of the general rate increase of $500 per FEU that some members of the Transpacific Stabilization Agreement scheduled for today, Aug. 1.