ACCORDING to maritime executives, the trans-Pacific trade between Japan and the US is facing increased competition among carriers due to a surge in shipping capacity, reports JOC.
This is a result of carriers no longer avoiding Japanese ports and instead introducing more capacity due to a rebound in export volumes from Japan to the US, which has been normalized after the easing of port congestion.
However, even as rates have fallen by up to 88 per cent in the last eight months, carriers are implementing rate increases and peak season surcharges.
For example, current West Coast rates from Yokohama to Los Angeles range from US$1,800 to $3,000 per FEU, with similar rates for Los Angeles to Yokohama, while rates for the US East Coast vary from $2,500 to $4,000 per FEU from Yokohama to Charleston and $1,700 to $2,200 per FEU for Charleston to Yokohama.
These rates do not include the general rate increases some carriers are planning to introduce in May.
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