East coast dock strike threat bolsters 14pc transpac rate to US$2,524/FEU

THE Hong Kong-Los Angeles container rate benchmark jumped by 14 per cent in week 3 to US$2,524 per FEU - the result of a partially successful January peak season surcharge - but Drewry analysts expect rates to slip after the February 10 Chinese New Year.

Drewry research manager Martin Dixon said the continued threat of an US east and Gulf coast dock strike was having a bolstering effect on west coast rates.

Transpacific Stabilisation Agreement member achieved 50 per cent of their $600 peak season surcharge returning container rate index back to where it was last October.