Asia-US East Coast container rates fell 12% to $3,000 per FEU as Lunar New Year factory closures impact demand, according to FreightWaves.
Asia-US East Coast container rates dropped 12 per cent last week to about US$3,000 per FEU, returning to early December levels as Lunar New Year factory closures slowed demand, reports New York's FreightWaves.
Asia-North Europe rates fell five per cent to $2,400 per FEU, while Mediterranean lanes declined four per cent to $3,600 per FEU, still above December levels. Freightos, a contributor to the SONAR data platform, said the holiday period traditionally dampens transpacific volumes.
The Trump administration also released its long-delayed Maritime Action Plan, proposing port fees of one to 25 cents per kilo on foreign-built vessels. Analysts estimated charges could range from $150 per FEU at the low end to $3,750 per FEU at the high end.
Freightos analyst Judah Levine said trade diversification is reshaping flows, with carriers shifting capacity to Far East-West Africa lanes as demand rises. He noted this trend may be contributing to recent service reductions on the transatlantic.
In a major industry deal, Germany's Hapag-Lloyd agreed to acquire Israel's Zim for US$4.2 billion. The acquisition will not change Hapag-Lloyd's rank as the fifth-largest carrier but will bring its combined capacity with Zim closer to China's Cosco, currently fourth with more than three million TEU.
Mr. Levine said the added capacity will strengthen Hapag-Lloyd's market share, particularly on Far East-North America and transatlantic routes, as competition intensifies among global carriers.
