THE spot rate for transporting an FEU from Hong Kong to Los Angeles by sea has held at US$1,268 for the third week in a row since the middle of December, according to an index published by London-based Drewry Shipping Consultants.

Compared to the same period a year earlier, spot rates have fallen by 28.2 per cent but in line with rates since August in the eastbound Pacific, indicating that rates on the busiest US trade lanes have stabilised said the report, adding that in late 2008, the spot rate was $1,767 per FEU before the global economic downturn dragged it down to $871 per FEU by August.

"Container lines in the eastbound Pacific then demonstrated resolve to stop the bleeding and prevent bankruptcies in the industry. The spot rate jumped to $1,300 per FEU in the week of August 9 and has remained in the range of $1,486 to $1,268 since," the report said.

"The next few months will be a critical period for container lines because the post-holiday months are traditionally the slowest period of the year for US imports from Asia."

The warning comes on the back of a Drewry forecast that carriers will collectively lose $20 billion in their global operations owing to weak freight rates and world trade demand.