Trans-Pacific Ocean Rates Swing as New Year Looms
The trans-Pacific container market continued its volatile Q4 trend last week, according to analyst Freightos, with West Coast prices rising 8%, or $200, to about $2,100 per forty foot equivalent unit (FEU) as carriers increased blanked sailings during the low-demand period, aiming to partially implement General Rate Increases (GRIs) on a bi-weekly basis.
East Coast rates dropped 3% to approximately $3,000 per FEU, although daily prices this week have risen by $300, and now exceed $3,350.
Freightos (NASDAQ: CRGO) research head Judah...
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