Ports

US-bound container rates spike as peak season window narrows

Container spot rates to both US coasts rose this week as shippers rushed to meet the end-of-September deadline for holiday inventory. Shanghai-New York rates climbed 3% to $9,587 per 40ft container, nearly triple year-ago levels of $3,677, while Shanghai-Los Angeles jumped 5% to $7,185. General rate increases implemented September 1st drove additional price gains of $300-$500 on the west coast. Carriers maintained pricing power through selective capacity reductions and blank sailings, while volumes rose 9% to the west coast and 3% to the east coast. Six additional blanked sailings are scheduled next week on the transpacific route, signaling carriers intend to sustain rate stability. The Asia-Europe trade presented a stark contrast, with Shanghai-Rotterdam spot rates falling 5% to $4,092 as weakness persisted on that corridor.