PSS lifts eastbound transpacific rates

The US$311 per 40ft increase in the benchmark rate shows that Transpacific Stabilisation Agreement (TSA) member carriers’ achieved around 50% of their intended US$600 PSS price increase target.

“Cargo demand and carrier load factors have strengthened in the run up to Chinese New Year,” explained Martin Dixon, Drewry’s research manager for freight rate benchmarking. “The wild card remains the threat of strike action at US East Coast and Gulf Coast ports which is also serving to strengthen rates.”

The latest price increase brought the container rate benchmark back to the same level it was in October, but the index remains 12% off last year’s peak reached in August.