Trans-Pacific spot container shipping rates are inching up

News Snapshot:

Shipping lines have pulled Asia-U.S. spot rates off the floor, but it’s a slog: two steps up, one step back, another two steps up, a slide back again. The general rate increase (GRI) on Thursday was partially successful, clawing back some ground lost after the April 15 GRI. According to the Freightos Baltic Daily Index (FBX), China-West Coast spot rates were $1,441 per forty-foot equivalent unit on Friday, up 11% from prior to Thursday’s GRI and up 44% from prior to the April 15 GRI. The FBX index put China-East Coast rates at $2,448 per FEU on Friday, up 6%...