Breaking

Carriers Push for Trans-Pacific Rate Hikes as Peak Season Winds Down

Container shipping lines are seeking November rate increases of $2,000 to $3,000 per FEU on Asia-US routes, though market indicators suggest the gains may not hold. East Coast rates stood at approximately $9,900 per FEU, down 6% week-over-week but still elevated compared to earlier levels. West Coast pricing remained near $8,300 per FEU following September climbs. Forwarders point to expanding capacity and more reliable vessel schedules as reasons to question carrier pricing power. A looming labor dispute threatens to complicate the market further. The Pacific Maritime Association and International Longshore and Warehouse Union Local 26—representing approximately 250 terminal security workers—extended negotiations through November 4, postponing a potential strike. The strike could disrupt operations at facilities handling 85% of Long Beach volume and 33% of Los Angeles cargo. Additional ILWU members have indicated willingness to honor picket lines, potentially interrupting broader port operations.