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Trans-Pacific Container Rates Hold Above $9,600 as Golden Week Demand Sustains

Container spot rates on the trans-Pacific route remain elevated near early July peaks. Asia-West Coast pricing climbed 4% last week to exceed $8,100 per forty-foot equivalent unit, while East Coast rates held steady at approximately $9,600 per FEU. Strong shipper demand ahead of China's Golden Week holiday, combined with Far East port congestion and carrier capacity reductions through blanked sailings, are sustaining the higher levels. Vessel delays and network disruptions from congestion have forced some sailing cancellations, while carriers proactively reduce capacity ahead of anticipated softer volumes during the holiday period. Despite current pressure on shippers, trans-Pacific rates remain substantially below 2021 pandemic peaks when Asia-West Coast pricing exceeded $20,000 per FEU. Analysts note the current environment more closely mirrors 2024 peak-season conditions driven by capacity constraints. Meanwhile, Asia-Europe spot prices continue moderating as peak-season demand softens.