Container rates continued their recent climb on the benchmark eastbound trans-Pacific trade lane, posting solid double-digit gains ahead of the Lunar New Year holiday.

Mid-December improvement flowed into the New Year, when carriers’ general rate increases (GRIs) kicked in, said Freightos analyst Judah Levine, in a note to clients.

“Prices to the West Coast increased 22% to $2,617 per forty foot equivalent unit (FEU), and are more than 30% higher than in mid-December,” according to figures from Freightos (NASDAQ: CRGO), an input contributor to SONAR data.

SONAR Ocean TEU Volume Index shows steady China-U.S. shipments since mid-December.

East Coast rates were 12% better at $3,757/per FEU after climbing 20% in less than a month. Shippers are gearing up for the Lunar New Year in mid-February, when Chinese factories close for several weeks.

“That prices haven’t retreated at all from December increases – like they had following several GRI attempts in Q4 – suggests that Lunar New Year demand is picking up and supporting prices on these lanes too,” Levine said.

But ample retail inventories are expected to temper January volumes at a level 10% lower than a year, according to the National Retail Federation. Ongoing capacity growth among ocean carriers is also forecast to significantly weaken rates year-on-year.

Those same GRIs boosted Asia-Europe rates 9% to around $3,000 per FEU in the latest week, while Asia-Mediterranean prices increased by more than 20% to $4,800 per FEU – and 23% and 45% since mid-December.

Mediterranean rates pulled even with peak season 2025 highs and Europe prices reached their highest point since late August as pre-Lunar New Year demand brushed off added capacity.

“These rate levels are well above longterm pre-LNY norms, Levine said, “but even with Red Sea diversions continuing and volumes likely stronger than last year, Asia- Europe prices remain 40% lower than last year, likely an effect of a growing fleet.”

Find more articles by Stuart Chirlshere.

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