Asia-US Container Rates Uptick Can’t Obscure Recent Plunge
Container rates ticked up in the latest week on the benchmark eastbound trans-Pacific from Asia to the United States, but the gains were too slight to offset prices 20%-30% lower than in November.
Spot rates rose 7% or $140 per forty foot equivalent unit in a short-term rebound in pricing after a bottoming out in late November.
But rates remain lower by 32%, or $950 per FEU, according to an update from analysts Xeneta and eeSea, from early November as the market adjusts to earlier capacity and demand shifts.
“The backdrop is still one of oversupply compared to demand and that is seen clearly in the fact rates are still not back to where they were a month ago despite a fairly chunky increase in the past week...
To Read Full Story Login Below.