• North America container market shows mixed rates following slow start up from LNY holiday
• South American container freight market mixed; ECSA export activity rises

The North American container market showed mixed dynamics during the week ending Feb. 7, reflecting varied price movements.

Feedback on the West Coast North America (WCNA) lane was diverse, with sources reporting difficulty gauging where FAK short-term rates stand.

Market participants believe this uncertainty stems from carriers attempting to maintain high rates ahead of contract season in March. Others said that Chinese port congestion is contributing to the tightening of rates.

"Everybody expected rates to drop but that's not what I'm seeing at all," a logistics source said.

Rates from North Asia to WCNA continued to rise during the week.

Platts Container Rate 13 -- North Asia to West Coast North America -- was assessed at $3,800/FEU, with an increase of $100 on the week.

Meanwhile, the North America to East Coast North America (ECNA) lane remained static, with a slow restart following the Lunar New Year holiday in China.

"At this moment [the] China market remains super quiet," a freight forwarder said.

Higher rates on this lane were not sustained, as short-term rates weakened, leading to a drop in rates.

Platts Container Rate 5 -- North Asia to East Coast North America -- was assessed at $5,000/FEU, decreasing by $500 on the week.

The trans-Atlantic route continued its decline, but this trend may not last long due to favorable vessel utilization factors putting upward pressure on rates this month.

"From our perspective, vessel utilization factors look favorable in these weeks of February, which are supported by the blank sailings in the market," a market source said.

Platts Container Rate 9 -- North Continent to East Coast North America -- was assessed at $1,800/FEU, down $100 on the week.

The South American container freight market ended the week with mixed rates but mostly softened on Feb. 7, with market sources sharing mixed expectations on rate evolution for freight spot rates offered for North Asian imports into the region for next week.

Market participants have reported mixed demand on the West Coast of South America -- some regional markets have grown while others have seen continued seasonal lows.

Delays at port stops in Mexico have continued to affect services along the coast, according to a WCSA based source.

Previously reported capacity adjustment strategies have not had a notable impact on spot rates, but market participants have already shared predictions for 2025 to be a year of weaker freight rate levels.

Platts Container Rate 29 -- North Asia to West Coast South America -- was assessed at $1,400/FEU, up $200 on the week.

Factories in North Asia were reportedly back online in the latter half of the week ending Feb. 7, according to an ECSA-based source.

Demand for imports from north Asia is still reportedly weak, a sentiment echoed by multiple market participants.

Additionally, there remains a strong split on whether the upcoming mid-month GRI attempt next week will be accepted by the market. Market participants expecting a bearish market have said that slow demand is a factor in their expectations.

Platts Container Rate 31 -- North Asia to East Coast South America -- was assessed at $2,900/FEU, down $300 on the week.

Exports from the East Coast of South America to the US have been negotiated at reduced rates, with greater space availability seen in the week.

Platts Container Rate 56 -- East Coast South America to USGC -- ended the week declining $400 to $3,400/FEU.

Platts is part of S&P Global Commodity Insights.