Breaking

Asia-US Container Rates Near Pandemic Records as Carriers Add Capacity

Container freight rates from Asia to the United States have surged to near pandemic-era highs. East Coast pricing has climbed to $11,259 per forty-foot equivalent unit, while West Coast rates reached $7,960 per FEU. Both trades have more than quadrupled since late February, before the Hormuz crisis disrupted global shipping markets. The East Coast route is tracking just 11 percent below its all-time record of $12,683 per FEU, established in January 2022. Rising bunker costs could further increase carrier fuel surcharges and potentially breach pandemic records, particularly on East Coast services. In response to strong demand and pricing, ocean carriers are increasing capacity on Far East-to-US East Coast routes by 6 to 7 percent month-over-month. Carriers are positioning themselves to capitalize on elevated revenue before market conditions potentially shift within the coming weeks.