Ocean rates: New Year promises a good ‘blanking’ for US East Coast

Ocean container rates got a pre-holiday bump in the latest week’s data as inbound Asia traffic continues to run stronger to the East Coast while carriers look ahead to the New Year for improvement on the West Coast.

Asia-West Coast spot rates for the week ending Dec. 14 climbed $366, or 21.3%, to $2,086 per twenty foot equivalent unit on capacity that was broadly steady, up less than 1% to 301,668 TEUs, according to analysts Xeneta and eeSea. That put rates narrowly higher from November, up $45 or 2.2% as capacity fell by 7% or 22,734 TEUs. Rates were only ahead $100, or 5%, as capacity fell by 0.4% from December 2024.

Approximately 40% of global container traffic moves under spot rates, when shippers require capacity on short notice, or when cargo is rolled, or bumped, from a previously scheduled service. In a weak market, spot pricing can offer leverage for cargo owners looking to negotiate better long-term deals with carriers.

On the East Coast, weekly spot rates gained $463, or 18.4%, to $2,982 per TEU as capacity swelled by 12,556 TEUs, or 7.2%, to 186,898 TEUs. Rates increased $236, or 8.6% month-on-month, as capacity rose by 12,913 TEUs, or 7.4%. Since Dec. 1 rates are better by $136, or 4.8% on capacity that added 15,792 TEUs, up 9.2%.