Freightos Baltic: Transpacific container rates surge past $6,000/FEU amid frontloading rush

Global ocean freight markets saw a sharp and widespread escalation in rates over the past week, driven by robust early peak season demand and frontloading activity ahead of looming tariff changes. The transpacific trade, in particular, has seen spot rates climb to their highest levels in over a year.

On 1 June, general rate increases (GRIs) pushed spot rates from Asia to the US West Coast up by nearly 100% to $5,488 per forty-foot equivalent unit (FEU). Daily rates have since surpassed $6,000/FEU, as shippers rush to move cargo before the expiry of temporary tariff suspensions scheduled for July and August. East Coast rates have followed a similar trajectory, jumping 61% to $6,410/FEU, with real-time spot prices now exceeding $7,000—comparable to levels last seen during last year’s early-season spike, which was exacerbated by Red Sea disruptions and US port labour strike.

In anticipation of continued demand pressure, carriers are preparing further transpacific GRIs ranging from $1,000 to $3,000/FEU, slated for implementation in mid-June and again on 1 July. These increases are being underpinned by ongoing operational bottlenecks, including equipment shortages, port congestion, and sluggish vessel repositioning—factors that could sustain elevated freight rates throughout the coming month.

However, relief could be on the horizon. Analysts expect momentum to ease from the second half of July as seasonal volumes begin to decline, congestion subsides, and additional capacity becomes available.

The transpacific surge is already rippling across other key tradelanes. Rates from Asia to the Mediterranean rose by 32% last week to $4,284/FEU, with current spot levels now exceeding $4,800. Meanwhile, capacity constraints—driven by equipment and vessel reallocation to the transpacific—are tightening supply on Asia–Europe routes. In response, carriers are preparing mid-June GRIs and peak season surcharges (PSSs) across these corridors as well.

Read more on Freightos