SPOT container shipping rates from Asia to the US have spiked significantly as companies rush to bolster inventories ahead of higher tariffs and a potential strike that could disrupt ports managing nearly half of the US's seaborne trade, reports Bloomberg News.
Booking a FEU to the US west coast reached US$6,000 on January 1 - a 50 per cent increase from US$4,004 a month prior - while rates to the east coast rose 31 per cent to $7,100, according to Oslo-based freight platform Xeneta.
Xeneta shipping analyst Emily Stausboll attributes the surge to mounting uncertainty.
The global container fleet has also avoided the Red Sea due to safety concerns, causing longer routes and reduced capacity.
These factors, combined with potential port strikes and President-elect Donald Trump's proposed higher tariffs on imports, pose risks for shippers.
While spot rates directly impact negotiations for long-term contracts, usually in the first quarter, demand growth is expected to slow later in the year.
SeaNews Turkey
Booking a FEU to the US west coast reached US$6,000 on January 1 - a 50 per cent increase from US$4,004 a month prior - while rates to the east coast rose 31 per cent to $7,100, according to Oslo-based freight platform Xeneta.
Xeneta shipping analyst Emily Stausboll attributes the surge to mounting uncertainty.
The global container fleet has also avoided the Red Sea due to safety concerns, causing longer routes and reduced capacity.
These factors, combined with potential port strikes and President-elect Donald Trump's proposed higher tariffs on imports, pose risks for shippers.
While spot rates directly impact negotiations for long-term contracts, usually in the first quarter, demand growth is expected to slow later in the year.
SeaNews Turkey
