Asia-US container rates hold as carriers seek $3,000 November rate hikes
Container rates remain firm despite cooling demand, as carriers seek price hikes and a potential LA–Long Beach strike adds uncertainty.
Trans-Pacific ocean rates remain well above pre-peak levels, and carriers are seeking increases of $2,000–$3,000 per FEU for November despite signs that the prolonged peak season is ending.
Forwarders cited improving space availability and more consistent vessel schedules as reasons to doubt that the increases would stick, analyst and SONAR data contributor Freightos (NASDAQ: CRGO) said in an update.
The analyst pegged Asia–U.S. East Coast rates at about $9,900/FEU, down 6% from the previous week but still roughly $200 above their level two weeks earlier. West Coast rates remained near $8,300/FEU after climbing into that range in September.
A potential watchmen’s strike at Los Angeles and Long Beach adds another source of uncertainty.
This story was originally published by FreightWaves. Read the full story at FreightWaves →
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