Top Trans-Pacific Carriers and Ports

Special Report

Strong demand , tight capacity and congestion at major ports like Singapore ( pictured ) are driving up spot container rates . Shutterstock . com

Peak season surcharges land earlier , higher in steamy trans-Pacific market

By Bill Mongelluzzo

Trans-Pacific container lines are capitalizing on earlierthan-expected peak season momentum by levying seasonal surcharges well ahead of usual on the capacity-constrained trade — and seeking more than double the usual amount .

Ocean carriers began implementing peak season surcharges ( PSSs ) on June 1 , about a month earlier than usual . Several carriers implemented PSSs of $ 600 per FEU on June 1 and another $ 400 on June 15 , with at least one liner announcing a $ 2,000 per FEU PSS effective July 1 , several non-vessel-operating common carriers ( NVOs ) told the Journal of Commerce .

“ This is definitely not a normal PSS environment .”

In addition to coming early , carriers are seeking higher PSSs than they have in past years , totaling $ 1,000 to $ 2,000 per FEU thus far . In past years , carriers would start with a $ 600 per FEU PSS in July and raise or lower it in subsequent months based on the strength of the market , the NVOs said .

“ This is definitely not a normal PSS environment ,” said Rachel Shames , vice president of pricing and procurement at forwarder CV International . “ This is more of a COVID environment .”

18 Journal of Commerce | July 1 , 2024 www . joc . com