Port Strike Threat Boosts Trans-Pacific Container Prices

Freight - The increase in freight rates at the end of the year has kept ocean container prices high on trans-Pacific routes to the United States. According to shipping data analyst Freightos, routes from Asia to the West and East coasts of the U.S. showed slight increases in the week ending December 20, approximately 15% higher compared to the beginning of December due to general price increases among carriers around mid-month.

Prices from Asia to the U.S. West Coast rose by 4% week-over-week to $4,452 per forty-foot equivalent unit (FEU). Prices to the U.S. East Coast increased by 2% to $5,932 per FEU.

Freightos research chief Judah Levine noted in his weekly update, "The price increases and reports of full ships ahead of the [Chinese] Lunar New Year likely reflect that shippers are continuing to pull their volumes forward in anticipation of customs tariff increases promised by President-elect Trump next year."

Levine also stated, "Despite strong volumes and some signs of stress on the railroads, operations at U.S. ports continue to run smoothly, and operators report they are ready for further volume increases."

A strike is anticipated at East Coast ports in January, which could increase transatlantic prices that have remained stable since mid-October.