Freight 101 Blog

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

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Dylan Sommer

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

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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