Transpacific freight rates fall

Last week the rate for container shipments from Hong Kong to Los Angeles fell $64 from the week before to $1,457 per feu. This means that the rates has reduced by about 21.2%, since last August and 29.9% below the same week a year ago.

Freight rates on the transpacific and Asia-Europe routes have been falling for more than a year, mainly caused by overcapacity on these routes. Transpacific rates have not fallen as far as those on the Asia-Europe trade because some carriers have already suspended services for the slack winter season.