News / Rates rollercoaster: transatlantic soars, while Asia-Europe loses more ground

Photo: Brett Critchley | Dreamstime.com

Container spot rates on the transatlantic shot up this week and, ahead of Chinese New Year tomorrow, transpacific rates carried on climbing, while Asia-Europe rates lost more ground.

Xeneta’s XSI North Europe to US east coast average spot rate leapt by 44%, to $2,078 per 40ft, after carriers took advantage of the Red Sea crisis to take out capacity and launch huge GRIs (general rate increases).

“If the flood of capacity on this trade was responsible ...