Ocean rates continued to slide this week, but continued elevated rates for secondhand and chartered container ships show ocean carriers are still looking for capacity.
Carriers have also scheduled 20% more transpacific capacity through October compared to last year, suggesting carriers do not expect a collapse in volumes.
These moves also suggest that carriers don’t anticipate port congestion to dissipate anytime soon: though trucker protests in Oakland were no longer impacting operations by the start of the week, congestion at inland rail hubs are creating a container backlog in LA/Long Beach, and a buildup of empty containers is slowing operations on the East Coast.
In air shipping news, Freightos.com marketplace air cargo rates show China – US West Coast prices have fallen 15% in the last month in what is typically a slow season for transpacific air, though rates are still about twice the pre-pandemic norm.
With the return of transatlantic passenger travel the Freightos Air Index shows Europe – US East Coast prices are 28% lower than a year ago, but still about 50% higher than normal due to added fuel costs and labor shortages.
Asia-US rates for this week:
- Asia-US West Coast prices (FBX01 Daily) fell 6% to $6,593/FEU. This rate is 64% lower than the same time last year.
- Asia-US East Coast prices (FBX03 Daily) increased 4% to $10,316/FEU, and are 47% lower than rates for this week last year.
Check in next week for more real-time freight market updates to help you ship smoother.
More rates from Freightos.com:
|Containerized Freight Rates from the Freightos Baltic Index|
|FBX Lane||Global||Asia – US West Coast||Asia – US East Coast||Asia – North Europe||North Europe – US East Coast|
|* Compared to the corresponding week in 2021|