News / High transpac rates good news for carriers as new contract talks loom

Photo: © trekandshoot

Container spot rates on the transpacific edged down slightly again this week, however they remain significantly higher than a year ago.

It follows that ocean carriers will feel confident of securing respectable annual contract rate increases from their shipper customers as the liner industry assembles for next week’s S&P Global TPM24 conference in Long Beach, California.

Xeneta’s XSI Asia-US west coast average rate declined by 3%, to $4,619 per 40ft, compared with $1,316 in the same week of 2023. Moreover, the XSI reading ...