Asia-U.S. ocean container rates have soared past $7,900 per forty-foot equivalent unit, driven by surging peak season demand rather than Middle East disruptions. Asia-U.S. West Coast prices increased 8% to $6,175 per FEU, while Asia-U.S. East Coast rates also rose 8% to $7,998 per FEU, according to Freightos. Since mid-May, trans-Pacific prices to the West Coast have climbed 120% and 85% to East Coast gateways, with East Coast rates now $1,000 per FEU higher than last year's summer peak. Carriers are shifting capacity from secondary lanes to service this demand, contributing to rate increases on secondary trades, and are set to introduce more rate hikes in July. The early peak season rush is likely driven by frontloading ahead of fuel surcharges, manufacturer price increases, and approaching U.S. tariff deadlines, and could lead to an early unwind possibly in July.
Freightos Limited Ordinary sharesFreightos reports surging container rates driven by peak season demand, directly benefiting its freight rate data and platform services.