West Coast rates fell by 19% in October, while East Coast prices dropped 41% from September, likely influenced by stronger front-loading activity before the strike. The congestion resulting from the three-day port worker strike at US East Coast and Gulf ports has eased without significantly affecting transpacific rates.
Amidst lagging demand, some carriers have announced blanked sailings for November, but the earlier timing of the Lunar New Year in late January may boost volume and contribute to rate rebounds.
Ex-Asia rates are expected to keep declining unless carriers cut capacity or demand rises ahead of Lunar New Year. For North American trade, additional factors could play a role: ongoing ILA-USMX contract negotiations and potential tariffs changes linked to the presidential election.