Ocean Freight Spot Rates Surge as Early Peak Season Collides with Port Congestion

Summary

Container spot rates from Asia to the U.S. West Coast jumped more than 23% to exceed $6,800 per FEU in the week ending 23 June, according to Locada Intelligence, while East Coast rates crossed $8,100. The surge is driven by an early peak season, sustained Red Sea diversions, port congestion and front-loading ahead of expected tariff changes. Carriers have warned that further GRIs could push spot rates toward $10,000 per FEU on key lanes.