Trans-Pacific Container Rates Hit New Highs on Resilient Demand and Port Congestion

  • Trans-Pacific container rates reached new highs as demand remained firm and Asian port congestion intensified.
  • Asia-U.S. West Coast rates rose 2% to $7,621 per forty-foot unit.
  • Asia-Europe rates remained 40% to 70% above pre-peak May levels despite recent declines.

Trans-Pacific container freight rates reached new highs last week as peak-season demand remained firm despite starting earlier than usual in May, while typhoon-related congestion at major Asian ports reduced effective vessel capacity. Asia-U.S. West Coast rates rose 2% to $7,621 per forty-foot unit and Asia-East Coast rates increased 2% to $9,791, according to SONAR data contributor Freightos (NASDAQ: CRGO). Freightos analyst Judah Levine said demand may have benefited from the absence of additional tariff increases in July. Data-center hardware shipments and reports that tariff refunds enabled some retailers to lower prices may also be supporting volumes and consumer-demand expectations. Carriers are adding some trans-Pacific capacity in September ahead of scheduled blank sailings during China’s Golden Week, but later service withdrawals could again restrict space. Asia-Europe rates have retreated from July peaks but remain 40% to 70% above pre-peak May levels, while transatlantic rates rose about $400 per FEU over two weeks as carriers cut capacity. Low-water surcharges for Panama Canal transits are also under consideration, which could add pressure to U.S. East Coast rates if implemented.

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