Core Insights - Container rates have seen a slight increase in the latest week for the eastbound trans-Pacific route, but they remain significantly lower than prices from November, with a decrease of 20%-30% [1] - Spot rates rose by 7%, or $140 per forty-foot equivalent unit (FEU), indicating a short-term rebound after a decline in late November, yet they are still down by 32%, or $950 per FEU, from early November levels [1] - The market is characterized by oversupply compared to demand, as highlighted by the fact that rates have not returned to previous levels despite recent increases [2] Rate Trends - Spot rates are crucial for rate indexes as shippers and carriers prepare for contract negotiations starting in January [3] - For the West Coast, offered capacity has remained flat to slightly down by 1%, with a 7% increase, or 20,000 twenty-foot equivalent units (TEUs), from November, reflecting higher supply despite modest rate recovery [3] - Week-on-week spot rates increased by about 8%, or $220 per FEU, for the Asia-U.S. East Coast trade lane, but are still 21%, or $750 per FEU, lower than a month ago [4] Capacity Dynamics - Capacity was reduced by 3% in the past week, contributing to the rate increase, but overall capacity is still up by 12%, or about 20,000 TEUs [4] - In contrast, the Far East to North Europe trade lane is experiencing both demand and supply strength, with carriers adding capacity and rates continuing to rise [5] - Spot rate increases from the Far East to the Mediterranean have shown sustained double-digit growth over the past month as carriers reduce capacity [5] Regional Developments - Carriers are preparing for a return to the region affected by the Red Sea crisis, although transits remain low compared to pre-crisis levels [6]