Container rates on the eastbound trans-Pacific route from Asia to the US increased slightly, but are still 20%-30% lower than in November. Spot rates rose 7% or $140 per FEU, but are down 32%, or $950 per FEU, from early November due to oversupply compared to demand.

Shippers and carriers are monitoring spot rates for upcoming contract negotiations in January. Offered capacity to the West Coast is flat to slightly down at 1%, with capacity up 7% from November. Week-on-week spot rates to the US East Coast increased 8%, but remain weaker by 21% than a month ago.

The Far East to North Europe trade lane is showing strength in both demand and supply, with carriers adding capacity and rates edging up. Spot rate increases are stronger from the Far East to the Mediterranean as carriers reduce capacity. Asia-Europe trade could benefit from developments around the Red Sea-Suez Canal route.

Read more at Yahoo Finance: Asia-US container rates uptick can’t obscure recent plunge