Spot rates for ocean containers rise as demand from Asia to the US East Coast strengthens, with improvements expected on the West Coast.
Ocean container spot rates have surged ahead of the holiday season, driven by robust traffic from Asia to the US East Coast. Carriers are also anticipating improvements on the West Coast, according to a report by Saint Petersburg's PortNews.
For the week ending December 14, Asia-West Coast spot rates climbed by $366, or 21.3%, reaching $2,086 per TEU. This increase occurred alongside a steady capacity of 301,668 TEU, as reported by Xeneta and eeSea. Compared to November, rates were slightly higher, up 2.2%, despite a 7% drop in capacity.
On the East Coast, weekly spot rates surged by $463, or 18.4%, to $2,982 per TEU, with capacity rising by 7.2% to 186,898 TEU. Month-on-month, rates increased by 8.6% and are 4.8% higher since December 1.
Xeneta's chief analyst, Peter Sand, indicated that capacity from the Far East to the West Coast is expected to increase by 10.4% in January, with blanked capacity down by 48.5%. In contrast, 162,219 TEU of blanked capacity has been announced for the East Coast over the next eight weeks, reflecting stronger demand.
Rates from North Europe to the East Coast remained steady at $1,566 per TEU, even as capacity fell by 6.2% to 46,773 TEU. Year-on-year, rates were slightly lower due to a nearly 7% decrease in offered capacity.
Asia-Mediterranean routes experienced an 18.9% increase in rates for the week, with a 38% rise month-on-month and an 18.4% increase year-on-year, supported by capacity growth of up to 26.1%. Contract negotiations for European trades have already commenced.
Average departure delays from the Far East to Europe reached 12.5 days, marking the second-highest level in three years, driven by port congestion and inefficiencies. Mr. Sand cautioned shippers to manage risks if they revert to just-in-time supply chains in 2026.
Maersk and Hapag-Lloyd, through their Gemini cooperation, have introduced premium pricing for on-time delivery. Market sources indicate that Ocean Network Express, Hyundai Merchant Marine, and Yang Ming are considering similar pricing models.
