Price Assessment

Platts Trans-Pacific Container Rates

  • What are Platts trans-Pacific Container Rates?
  • How does Platts assess the trans-Pacific Container Rates?
  • Platts trans-Pacific Container Rates Market Commentary
  • Daily Market Price Heards

What are Platts trans-Pacific Container Rates?

Platts Trans-Pacific container rates are price assessments by S&P Global Commodity Insights of the specific shipping route, which provide daily insight into market fundamentals and trends, offering essential information including price assessments, market-critical data, trade updates, trends, news, commentary and analysis giving you a thorough market overview. The Platts box rate assessments reflect a $/FEU cost for moving a container from the port of origin to the port of discharge, at 16:30 London time or 13:30 Houston time, depending on the route.

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How does Platts assess the trans-Pacific Container Rates?

During the daily price discovery process, S&P Global Commodity Insights survey as broad a cross-section of the market as possible, including carriers, freight forwarders, shippers. Market players are regularly contacted by phone, instant-message, email or face to face meetings by our global team of pricing analysts.

Platts trans-Pacific Container Rates Market Commentary

  • Asia-US freight likely at or near bottom, carriers eager to push through April increases
  • Trans-Atlantic trajectory continues downtrend as market normalization progresses
  • Strong volume forecasts to support South American export rates


North American box rates moved largely sideways during the week to March 17 as cargo owners continued to test pricing at or below carrier break-even levels. At the same time, continued volatility was registered in the North Asia-South America run as forward demand signals remained murky and carriers looked to implement rate increases.


The key North Asia-US West Coast run was assessed flat at $1,250/FEU over the course of the week, down just $25 from the start of the month.

“I would say it seems to have stabilized,” a European-based carrier said. “A number of carriers have filed and announced GRI’s for the month of April. At present moment, we do not see April being the appropriate month to implement GRI, given supply continue to exceed the demand.”

Indeed, carriers are keen to levy rate increases in April as many shippers have been heard waiting to see further spot rate developments before entering into term contracts in beginning in late March. As it stands, spot pricing is well below anticipated contract rates into the USWC, which are widely expected to settle between $1,700/FEU and $2,000/FEU.

Coastal differentials have also aligned with prepandemic norms, with USEC discharges sitting just $1,050/FEU higher than those to the USWC for ex-Asian cargoes.

Platts Container Rate 5 – North Asia-to-East Coast North America – ended the trading week at $2,300/FEU, down $150 since March 1.

“[Our ships have] 80-85% utilization average out of North Asia,” said another carrier source, noting that liners are going to continue to aggressively curtail capacity and lay up ships in a bid to meet falling demand.

Freight in the Atlantic basin held firm during the week, despite sentiment holding that rates will continue to ease as tonnage supply has largely balanced against cargo demand. While the TA run remains the most lucrative of the major east-west trades at the moment, the normalization process has begun and rates are primed to continue easing further.

In South America, where rates have experienced mild volatility throughout the first quarter, market sources anticipate an upswing in April/May as shippers look to reengage import orders.

Strong grains and soybean harvests are expected to increase demand for export rates, particularly on the ECSA-to-Asia run.

PCR32 – ECSA-to-North Asia -- came to $1,300/FEU on March 17, up $600 on the week.

Daily Market Price Heards

24 Mar 2023 — North Asia-to-Mediterranean (PCR3) indicative value heard at $2,150/FEU for loading in prompt dates: Freight

24 Mar 2023 — North Asia-to-North Continent (PCR1) indicative value heard at $1,492/FEU for loading in prompt dates: Freig

24 Mar 2023 — North Asia-to-UK (PCR11) indicative value heard at $1,250/FEU for loading prompt dates: Logistics (container

24 Mar 2023 — North Asia-to-North Continent (PCR1) indicative value heard at $1,200/FEU for loading in prompt dates: Logis

24 Mar 2023 — UK-to-North Asia (PCR12) indicative value heard at $400/FEU for loading in 10-14 days: Carrier (containers@s

24 Mar 2023 — North Asia-to-UK (PCR11) indicative value heard at $1,250/FEU for loading in 10-14 days: Carrier (containers

24 Mar 2023 — North Asia-to-North Continent (PCR1) indicative value heard at $1,200/FEU for loading in 10-14 days: Carrier

24 Mar 2023 — Mediterranean-to-North Asia (PCR4) indicative value heard at $525/FEU for loading in 10-14 days: Carrier (co