News / Transpacific rates shoot up as carriers prop up GRIs with more blanks

Port of Los Angeles

Container spot rates from Asia to the US west coast shot up this week, as carriers succeeded in implementing a good percentage of their mid-month GRIs.

Xeneta’s XSI Asia-US west coast component jumped 39%, to $1,604 per 40ft, while the Freightos Baltic Index (FBX) reading soared 71%, to $1,724 per feu.

With another wave of GRIs set to hit shippers on 1 May, as in the past, the transpacific lines will look to roll out monthly increases ahead of the peak season.

And ...