Weekly highlights

With ocean carriers removing capacity, ocean rates out of Asia may have stopped their slide, though Asia – US West Coast prices are 15% lower than before the Shanghai lockdown, and Asia – Europe rates have declined 21% since early March.

Authorities in Shanghai announced that the reopening will start soon with an aim of a full rebound by late June. Though some observers expect surging exports, container rates and congestion levels as a result, others think that ocean logistics will be able to absorb a gradual reopening without extreme detrimental impacts.  

Asia-US rates for this week:

  • Asia-US West Coast prices (FBX01 Daily) increased 14% to $13,935/FEU. This rate is 97% higher than the same time last year.
  • Asia-US East Coast prices (FBX03 Daily) were unchanged at $15,963/FEU, and are 113% than rates for this week last year.
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Asia – US West Coast

Asia – US East Coast Asia – North Europe North Europe – US East Coast
This Week $8,520 $13,935 $15,963 $10,583 $8,395
Last Week 4% 14% 0% 0% 0%
Last Year* 69% 97% 113% 18% 96%
* Compared to the corresponding week in 2021