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Ocean rates lower than a year ago on heels of weakening demand

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Dylan Sommer

Weekly highlights

With more signs of slowing consumer demand, transpacific ocean rates fell 2% this week. 

China – US West Coast shipments now cost about half what they did in April and are more than 30% lower than this time last July when prices were beginning their 80% peak season spike over the course of the month.

Ocean carriers have canceled sailings in May and June in response, though fewer are planned for late July, possibly in anticipation of some peak season surge nonetheless. 

In air cargo, the recovery of belly capacity continues on many lanes, with Freightos Air Index Europe – N. America rates now $3.80/kg, 25% lower than in early May

Asia-US rates for this week

  • Asia-US West Coast prices (FBX01 Daily) fell 2% to $7,425/FEU. This rate is 31% lower than the same time last year.
  • Asia-US East Coast prices (FBX03 Daily) dipped 2% as well to $9,872/FEU, and are 29% lower than rates for this week last year.

More rates from

Containerized Freight Rates from the Freightos Baltic Index
FBX LaneGlobalAsia – US West CoastAsia –US East CoastAsia – North EuropeNorth Europe – US East Coast
This Week$6,505$7,425$9,872$10,480$8,164
Last Week-1%-2%-2%-1%1%
Last Year*-14%-31%-29%-12%36%
* Compared to the corresponding week in 2021

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