Retail Optimism Boosting Trans-Pacific Container Rates
Container rates on the eastbound trans-Pacific continued their recent strengthening, a sign that restocking sentiment among U.S. retailers may be improving.
Spot Asia-U.S. West Coast rates increased 5% to $2,757 per forty foot equivalent unit (FEU), according to analyst Freightos (NASDAQ: CRGO). Prices on the Asia-U.S. East Coast trade increased 7% to $4,033 per FEU.
“The current rate bumps to North America would also be earlier than normal for pre-Lunar New Year,” wrote Freightos analyst Judah Levine, in a note to clients, “but are in line with the latest National Retail Federation U.S. ocean import projections...
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