Asia-US Container Rates Hit $11,259, Nearing Record Levels
Spot rates for shipping containers from Asia to the US East Coast reached $11,259 per FEU. This figure is 11.2% below the all-time high set in 2022.
Container freight rates from Asia to the United States reached $11,259 per forty-foot equivalent unit on the East Coast. This level sits 11.2% below the pandemic-era record of $12,683. The West Coast rate reached $7,960 per FEU. Both trades have more than quadrupled since late February.
The spike follows the geopolitical disruption in the Strait of Hormuz. Ocean carriers are capturing higher revenue during this period of tight supply. The East Coast trade is currently the closest to breaking the historical price ceiling.
Rates quadruple since February
Spot rates are up 324% to 325% from pre-crisis levels. Xeneta data confirms the sharp increase across key trade lanes. Bunker costs are rising and may push fuel surcharges higher. This could accelerate the rate increase further.
Carriers add capacity to capture revenue
Offered capacity on the East Coast route rose 6% to 7% in September. Carriers are adding space to meet strong demand before a potential market turn. They aim to maximize revenue while rates remain near historical highs. This strategy may restrain the rapid escalation of spot pricing.
Global routes see varied price increases
The Far East to North Europe trade rose 84.9% to $4,103 per FEU. The Far East to Mediterranean route increased 33.2% to $4,434 per FEU. The North Europe to US East Coast trade doubled to $2,956 per FEU. These figures illustrate the broad impact of the supply chain disruption.
A final rate push is expected in early October. Shippers will accelerate exports before the Golden Week factory shutdowns. This seasonal rush may mark the end of the sharp upward trajectory. The market could stabilize after this period of intense activity.
