Xeneta: US East Coast imports cost $3,334/FEU more than West Coast as spread beats pre-war rate

Summary

Xeneta's market average spot rates for the week of 21 August put Far East-US West Coast at $7,193/FEU, up 2.7%, and Far East-US East Coast at $10,527/FEU, up 2.8%. Chief analyst Peter Sand notes the $3,334/FEU gap between the coasts now exceeds the total cost of shipping a box to either coast before 28 February, when rates stood at $1,879 into the West Coast and $2,651 into the East Coast. He urges flexible shippers to use West Coast gateways.