WCI: Trans-Atlantic Eastbound Rates Fall 5.8 Percent Ahead of GRI

WCI: Trans-Atlantic Eastbound Rates Fall 5.8 Percent Ahead of GRI

Trans-Atlantic eastbound rates fell while westbound rates rose this week, according to the latest release of the World Container Index.

World Container Index Rates Between New York and Rotterdam
Source: WCI

WCI trans-Atlantic container rates through March 7, 2013.

For a larger version of the chart, click on the image.

Rates from New York to Rotterdam fell 5.8 percent or $117 this week to $1,911 per 40-foot container. The last time trans-Atlantic eastbound rates fell by more than 5 percent was the week of May 31, 2012 when it fell by 6.8 percent to $1,937. The index is now 1.5 percent lower than it was at the beginning of 2013 when it was $1,940 and 2.4 percent lower than it was at this point in 2012.

Rates in the westbound Rotterdam-to-New York trade rose 2.4 percent or $58 to $2,451 per FEU after four weeks of staying at $2,393. The westbound index is 0.3 percent higher than it was at the beginning of 2013 and 10.4 percent higher than it was at this point in 2012.

The Transpacific Stabilization Agreement plans to enact a $600-per-FEU increase to the U.S. East Coast on April 1. Shipping companies such as OOCL, CMA CGM and Maersk Line followed by announcing their own rate hikes for trans-Atlantic routes for the same day.