Trans-Pacific Maritime
Special Report
Those sources told the Journal of Commerce that for the current contract year — which , for most deals , wraps up at the end of April — initial quotes from carriers were approximately $ 1,800 to $ 2,000 per FEU to the West Coast and in the high $ 2,000s per FEU to the East Coast . Those levels eventually settled at or below $ 1,600 and $ 2,500 , respectively , the sources said .
Kurt McElroy , executive vice president of the NVO Kerry Apex , said that in his conversations with several customers , any anxiety they are expressing is not about price , but rather about securing the vessel space they will need in the coming year , even if that involves paying higher contract rates to lock in the space commitments .
With average spot rates from Asia to the West Coast at
Trans-Pacific spot rate slide continues in February
Container spot rates from North Asia to US West and East coasts , in USD per FEU
USD per FEU
$ 10,000
$ 8,000
$ $ 10,000 6,000 L
$ 4,000
$ 2,000 $ 1,261
$ 0 L Jul Jan 2024 Jul
Feb Jan , 2025
North Asia to US East Coast North Asia to US West Coast
Source : Platts , S & P Global © 2025 S & P Global
$ 3,460 per FEU in the week of Feb . 14 , according to Platts , a sister product of the Journal of Commerce within S & P Global , a contract rate of $ 2,500 per FEU “ is still pretty good ,” McElroy said .
Shaping perception
Carriers underpriced their services last spring because they bought into the prevailing view of the trade that there would be huge overcapacity in 2024 , a carrier source told the Journal of Commerce .
This year , however , carriers want to take control of the narrative and set the “ perception ” of what supply and demand will look like for the 2025 – 26 contract year , the source said . Most contracts for the upcoming service year take effect on May 1 .
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12 Journal of Commerce | March 3 , 2025 www . joc . com