Breaking

Transpacific Rates Decline as Golden Week Marks Peak Season End

Container freight spot rates from Asia to the U.S. West Coast have begun retreating following China's Golden Week holiday, signaling the conclusion of this year's protracted peak season. The Shanghai-Los Angeles route saw spot rates decline 3% week-on-week, according to Drewry's World Container Index. However, gains remain modest as elevated fuel costs and operational constraints continue supporting the market. Intra-Asia container rates have similarly eased after reaching post-pandemic highs ahead of the holiday period, though geopolitical disruptions and supply chain friction maintain upward pressure. Ocean carriers are already preparing price increases for the months ahead. Meanwhile, in refrigerated logistics, reefer spot linehaul rates averaged $2.71 per mile last week, down 0.7% (or $0.02 per mile) as seasonal produce demand softens.