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Trans-Pacific container rates plunge again

April 3, 2024


Eastbound trans-Pacific ocean container spot rates plunged again this week as container ship capacity on the trade lane recovers and volumes reset at a lower level than they were pre-Lunar New Year.

The Freightos Baltic Daily Index spot rate for China to the West Coast of North America fell from $3,620 per forty-foot equivalent unit to $2,976 per FEU this week, a drop of 17.8%. The rate has come down more than 36% since March 1 as steamship line networks have adjusted and capacity has loosened during the Red Sea crisis.

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