Spot rates on the transpacific trades are now at the lowest point for more than a year following a further slide over the past week.
Drewry’s latest Hong Kong-Los Angeles container rate benchmark is down to US$2,032 per loaded 40ft container after losing another 4.3% in seven days.
Spot rates, which cover only a small percentage of cargo shipped from Asia to the US but are widely used as a benchmark, are now more than 12% lower than in May 2012 when rates stood at $2,337 in the corresponding week.
Spot rates on the transpacific trades are now at the lowest point for more than a year following a further slide over the past week.
Drewry’s latest Hong Kong-Los Angeles container rate benchmark is down to US$2,032 per loaded 40ft container after losing another 4.3% in seven days.
Spot rates, which cover only a small percentage of cargo shipped from Asia to the US but are widely used as a benchmark, are now more than 12% lower than in May 2012 when rates stood at $2,337 in the corresponding week.
Not since April 2012 have eastbound rates been down at current levels.
They subsequently rose to more than $2,700, but have been on a downwards trajectory for much of this year, with an April general rate increase not holding for long.
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