China – US West Coast prices dropped 4% this week as falling ocean rates, climbing inventories and inflation suggest a slow-down in demand.
Despite this trend, consumer spending and ocean volumes remained strong in June.
Multiple labor issues continue to threaten logistics operations. Even as things are stabilizing somewhat, new rail and trucking tensions in the US could spell ongoing delays for shippers.
Another port worker strike in Germany this week also caused disruptions on European lanes.
Port congestion, together with strong demand for European imports have kept transatlantic rates climbing. Container prices are now 35% higher than in January.
Asia-US rates for this week:
- Asia-US West Coast prices (FBX01 Daily) decreased 3% to $7,028/FEU. This rate is 58% lower than the same time last year.
- Asia-US East Coast prices (FBX03 Daily) fell 1% to $9,922/FEU, and are 49% 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|
|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|