Container rates held on to their gains of previous weeks due to early peak season demand and shippers frontloading ahead of potential tariff hikes. On the main East West Lanes prices maintained their levels during the second week of June, with US West Coast prices FBX01 (China/East Asia – USA West Coast) ending the week at $5,947/FEU, down marginally from its high of $6,015/FEU at the same time last week. Meanwhile East Coast FBX03 (China/East Asia – USA East Coast) finished the week at $7,124/FEU up from $7,090 the week before. Carriers are planning further rate increases (GRIs) in mid-June and July as demand, predicted by The National Retail Federation (NRF), is expected to rebound in June and peak in July, before declining in September.

Meanwhile, last week, Asia-Mediterranean FBX13 (China/East Asia to Mediterranean) rates jumped to $5,101/FEU before finishing the week at $4,736/FEU due to capacity shifting to transpacific routes. Mid-month GRI’s are also being planned for Asia-Mediterranean routes as well as Europe to South America/ Latin America. FBX24 (Europe to South America East Coast) maintained the gains of last week ending the week up marginally at $886/FEU.