Trans-Atlantic carriers failed to achieve a general rate increase set for April 1 between Northern Europe and the U.S. East Coast. Several major carriers announced rate hikes of between $200 and $300 on eastbound lanes and $300 and $500 westbound. While eastbound rates did increase $148, a portion of the proposed GRI, westbound rates actually fell $40, showing that the market could not sustain such an increase.
Rates from Rotterdam to New York fell 1.6% this week to $2,411 per 40-foot container, according to the latest release of the World Container Index. They had been stuck at $2,451 for the past four weeks. The rate is 1.3% lower than it was at the beginning of the year and 5.5% lower than it was at this point in 2012.
Trans-Atlantic eastbound rates had a 9.4% jump in the week of April 4, which was their first increase since mid-January 2013 and their largest increase since the beginning of 2012. The rate from New York to Rotterdam rose $148 to $1,716 per 40-foot container. Despite the increase, the index still remains 11.5% lower than it was at the beginning of 2013. It is now 17% lower than it was at this point last year.