Freightos Rates Steady at $4,836 for Asia-US West Coast, East Coast Up 4%
CRGO•Spot rates on Asia–U.S. West Coast remained at $4,836 per FEU while Asia–U.S. East Coast rates rose 4% to $6,558 per FEU. A June 19 U.S.–Iran memorandum will reopen the Strait of Hormuz within 30 days, but de-mining delays and infrastructure damage mean fuel cost relief and shipping volumes may take months to normalize.
1. Spot Rate Trends
Spot rates on the Asia–U.S. West Coast route held at $4,836 per FEU last week, while Asia–U.S. East Coast service climbed 4% to $6,558 per FEU. Shippers are rushing to secure capacity ahead of scheduled fuel surcharge hikes by Asian carriers.
2. Strait of Hormuz Reopening
A June 19 memorandum between the United States and Iran will reopen the Strait of Hormuz within 30 days, ending a four-month de facto closure that constrained global shipping. Persistent de-mining challenges and damaged infrastructure mean full traffic recovery could take several weeks to months.
3. Fuel Cost Implications
Lifting naval blockades may ease bunker and jet fuel prices, potentially reducing spot Emergency Fuel Surcharges. However, delayed crude shipments and strategic reserve replenishment could sustain higher fuel costs in the near term.
4. Contract vs Spot Rate Impact
Large shippers under annual agreements will face third-quarter Bunker Adjustment Factors despite any spot rate declines, maintaining elevated contracted rates. This pricing gap could support revenue resilience for rate-tracking platforms through the third quarter.
