Freight 101 Blog

Ocean rates on Asia – US West Coast lanes dip below 2019 levels

Stay up to date with the latest air cargo, ocean freight, and international shipping news with Freightos.com.

Weekly highlights

This week, congress voted to block a major rail strike, and ocean rates continued to drop.

  • Asia – US West Coast rates fell by more than 25% last week, hitting a level 5% lower than in 2019
  • Asia – US East Coast rates fell 19%, but are still 32% higher than three years ago
  • Transatlantic prices dipped slightly last week and have decreased by nearly 25% since August, likely a result of carriers shifting capacity to it from other routes, since demand has remained stable and rates remain high at more than $6,000/FEU.

Air cargo peak season has now officially failed to materialize. Freightos Air Index rates from China to N. America and Europe are down more than 40% compared to the end of November a year ago.

Asia-US rates for this week

  • Asia-US West Coast prices (FBX01 Weekly) fell 26% to $1,426/FEU. This rate is 90% lower than the same time last year
  • Asia-US East Coast prices (FBX03 Weekly) decreased 19% to $3,723/FEU, and are 78% lower than rates for this week last year
  • Asia-N. Europe prices (FBX11 Weekly) fell 2% to $3,974/FEU, and are 73% 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 LaneGlobalAsia – US West CoastAsia –US East CoastAsia – North EuropeNorth Europe – US East Coast
This Week$2,528$1,426$3,723$3,974$6,358
Last Week-9%-26%-19%-2%-3%
Last Year*-74%-90%-78%-73%-12%
* Compared to the corresponding week in 2021

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