Ocean rates from Asia to the US West Coast continued their slide, falling 6% since last week to about $6,500/FEU, a level last seen back in May of 2021 and nearly 70% lower than a year ago.
Asia – N. Europe prices dipped 7% in the last two weeks and are 30% lower than last year, after being stable since the end of April.
Asia – US East Coast rates ticked up 4%, possibly a sign of worsening congestion, but are nearly 50% lower than this time last year.
Despite the falling prices, there are signs that ocean carriers don’t view this trend as the start of a complete collapse.
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.
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|