Current benchmark is 18.4 percent higher than the average spot price in the same week last year
The general rate increase implemented on March 15 by carriers on the eastbound trans-Pacific trade continued to hold up this week as average spot prices stayed level.
The Drewry benchmark for shipping a 40-foot container from Hong Kong to Los Angeles remained at $2,005, about where it has been for the last four weeks.
The carriers that belong to the Trans-Pacific Stabilization Agreement implemented a GRI of $300 per 40-foot equivalent unit on March 15, which fueled a 13.6 percent jump in the Drewry benchmark to $2,013 per FEU.
The Drewry benchmark eased slightly to $2,005 per FEU two weeks ago and has stayed the same since then.
The current benchmark is 18.4 percent higher than the average spot price of $1,693 per FEU in the same week last year.
Source: Journal of Commerce
