Trans-Pacific Rates Climb Despite Low Demand Season

Key Details Asia-U.S. West Coast spot rates increased 1% to $2,675 per forty-foot equivalent unit (FEU), while East Coast prices rose 3% to $3,939 per FEU according to the Freightos Baltic Index. The SONAR Ocean Booking Index shows a gradual climb from 16,166 to 22,951 since late February. Why It Matters The ongoing Strait of Hormuz blockade is keeping container rates elevated during what is typically the lowest-demand shipping period of the year. Increased fuel costs from the closure are preventing the normal seasonal price floor, which typically occurs between Lunar New Year and peak season. The Bigger Picture Trans-Pacific rates remain well below recent crisis spikes from Red Sea disruptions and trade war frontloading. West Coast prices are 45% higher than pre-war levels and 90% above October lows, while East Coast prices stand 30% higher than pre-war and 30% above October levels. What's Different on Asia-Europe Routes Unlike the trans-Pacific, Asia-Europe rates have eased 3%, with North Europe and Mediterranean lanes struggling to maintain war-related gains. Carriers are canceling general rate increases and announcing more blank sailings to manage capacity on these struggling lanes.