Ocean container rates falling but still above year-ago levels

Container handling at the Port of Los Angeles.(Photo: Jim Allen/FreightWaves) Ocean container rates on trans-Pacific services to the United States are trending lower but remain elevated from year-ago prices. Analyst Freightos (NASDAQ: CRGO) said Asia-U.S. West Coast rates fell 8% to $4,362 per forty-foot equivalent unit in its Baltic Index for the week ending Feb. 21 from the previous week. Asia-U.S. East Coast prices were off 11% to $5,698 per FEU. "The post-Lunar New Years lull has seen rates fall 30% since January which includes reductions in some peak season surcharges that have been in place for more than a…