West Coast container rates slip $2 per FEU as trans-Pacific prices ease

Far East‑U.S. West Coast spot rates fell $2 per FEU on Oct. 7, marking the first daily decline in weeks. Despite the drop, rates stayed 1.1% above their Sept. 30 level at $8,336 per FEU, while Asia‑U.S. East Coast averages rose to $11,512 per FEU, up 0.5% over the week. On the trans‑Atlantic lane, North Europe‑U.S. East Coast spot rates slipped 1.1% week over week to $2,854 per FEU.

Asia‑Mediterranean spot rates averaged $4,007 per FEU, down 5.9% from Sept. 30. Lower short‑term rates are giving European shippers more leverage as they negotiate long‑term contracts. The narrowing gap between Mediterranean and North Europe rates reflects shifting trade patterns.

“For European shippers, tender season is in full force and falling short-term rates are a welcome development as they negotiate long-term contracts,” Peter Sand, Chief Analyst at Xeneta said.

As demand eases from a high level, competition for vessel capacity is diminishing, improving negotiating conditions for shippers. Sand said carrier rerouting away from the Suez Canal route around Africa may help explain the pricing relationship.

What we know

Far East-U.S. West Coast spot rates fell $2 per FEU on Oct. 7, the first daily decline in weeks.
Despite that decline, West Coast rates remained 1.1% above their Sept. 30 level at $8,336 per FEU.
Asia-U.S. East Coast rates averaged $11,512 per FEU, up 0.5% over the week.
On the trans-Atlantic trade, North Europe-U.S. East Coast spot rates declined 1.1% week over week to $2,854 per FEU.
As of Oct. 7, Asia-Mediterranean spot rates averaged $4,007 per 40-foot container, or FEU, down 5.9% from Sept. 30. Far East-North Europe rates averaged $3,645 per FEU, down 2.5% over the same period.