Weekly highlights

Authorities in Shanghai are set to begin the reopening process next week after an extended lockdown. When manufacturing comes back online export volumes are expected to surge toward already-congested ports like LA/Long Beach. 

Ports are hoping that lessons-learned throughout the pandemic will mitigate how disruptive the likely surge will be.

But retailers importing peak season goods early, or stuck with excess inventory on some big-ticket household items as consumer spending shifts, are causing a shortage of warehousing space. This could be another factor that could back up imports at the ports’ container yards. 

A release of pent up demand could put upward pressure on container rates when Shanghai reopens.

In the meantime, prices from Asia – the US West Coast are almost 30% below their level just before the lockdown, and Asia – N. Europe rates are just 15% higher than this time last year.

Asia-US rates for this week:

  • Asia-US West Coast prices (FBX01 Daily) decreased 18% to $11,455/FEU. This rate is 44% higher than the same time last year.
  • Asia-US East Coast prices (FBX03 Daily) fell 9% to $14,570/FEU, and are 99% higher than rates for this week last year.
Get live freight quotes instantly
CHECK RATES NOW

 

FBX Lane Global Asia – US West Coast Asia – US East Coast Asia – North Europe North Europe – US East Coast
This Week $7,855 $11,455 $14,570 $10,583 $8,360
Last Week -8% -18% -9% 0% 0%
Last Year* 54% 44% 99% 15% 93%
* Compared to the corresponding week in 2021