Container shipping rates rise globally as restocking boosts demand

The all-inclusive trans-Pacific container shipping rates to North America stayed afloat in the week to Dec. 17 by a renewed push to restock retail inventories in the period between the calendar year-end and Asia’s Lunar New Year celebrations beginning Feb. 1, which will curb factory and transport operations.
August-September-peak season approach to the holiday shopping season saw more acceptance of premium service fees in addition to ocean freight rates by the shippers as compared in the week to Dec 17.
Sources said that some shippers were shopping around the market for the best rates or deferring cargoes until after Lunar New Year, where possible. But demand has increased from a lull in October-November and Asian export hubs have come face to face with a growing shortage of empty equipment as the holiday import rush places more equipment out of position.
As carriers impose General Rate Increases with expectations of higher demand, the premium rates for Southeast Asia-to-North America cargoes have seen a hike this week.