Asian port jams push transpacific spot rates above $6,200/FEU to US West Coast

Summary

Vessel waiting times of 3-5 days at Shanghai, Ningbo and Singapore have tightened equipment and space, prompting carriers to push August GRIs on US-bound services. West Coast spot rates have climbed above $6,200 per FEU, while East Coast pricing is testing $9,000-$10,500 per FEU.