Early peak coming as trans-Pacific container rates double

The past week has seen significant changes in trans-Pacific container rates, marking a significant shift on the shipping horizon as the peak season approaches.

Container rates from Asia to the U.S. West Coast surged in the latest data from SONAR and Freightos, as shippers pushed the peak season early to frontload goods ahead of potential tariff pauses in July and August, while ocean lines implemented general rate increases (GRIs) as of June 1.

The SONAR Container Atlas spot rate for loaded boxes departing Yantian, China for Los Angeles was $6,645 per forty foot equivalent unit (FEU) as of June 10, up from $6,100 on June 6. The rate from Ningbo, China increased to $6,439 from $5,797.

The Freightos Baltic Index for the week ending June 6 including GRIs saw rates double to $5,488 per FEU, with daily rates surpassing $6,000. Prices to the U.S. East Coast experienced a 60% increase, reaching $6,410 per FEU. Current rates exceed $7,000 per FEU, aligning with figures from the previous year when capacity constraints, driven by Red Sea dynamics and an early peak season, compounded by the strike threat by the International Longshoremen’s Association, pushed prices up.