Container rates continue their gradual rise despite middling demand, with Asia-U.S. West Coast spot prices increasing 7% to $2,653 per forty foot equivalent unit (FEU) this past week.
The platform's Baltic Index showed the increase, which is about $800 per FEU higher than before the start of the Iran war but remains below levels prior to the Lunar New Year holiday in February.
Fuel and other surcharges have put upward pressure on rates during the March-April lull ahead of summer peak season.
Carriers have so far mostly not succeeded in pushing rates up to the full announced surcharge or general rate increase levels, according to analyst Judah Levine.
Levine warns that barring a significant spike in fuel prices or an actual shortage in fuel supply and availability, rate behavior since the start of the war may indicate that the chances of significant spot rate increases are slim until peak season.
The Mideast hostilities have pushed up bunker fuel prices by 55% pre-war, but those have retreated 9% since the beginning of April, according to researcher Linerlytica.
Reports of fuel shortages may have been overstated, and in general terms, there is still enough supply in the Far East for now.
The Strait of Hormuz remains a critical shipping route, with 33 reports of incidents affecting vessels operating in and around the region this week.
s are closely monitoring the situation and its potential impact on global trade and container shipping.
s warn of potential impact on consumer demand and peak season volumes
