Freight 101 Blog

Transpacific rates remain stable as transit times continue to improve

Weekly highlights

Transpacific ocean rates have been stable for more than a month, falling below 2019 levels in the last few weeks with the absence of the typical mini-demand surge ahead of Lunar New Year.

Asia to N. Europe rates remain above 2019 levels, despite falling demand and an 80% price drop compared to a year ago,  

Freightos.com data shows that as congestion eases, transit times for China-US ocean shipments in December were 35% lower than a year ago. However, some lingering East Coast and Gulf congestion is keeping transit times 20% higher than in 2019. 

Freightos Air Index rates from China to N. America and Europe are more than 30% lower than a year ago when demand was surging. Despite these price declines, fuel and labor costs are keeping air cargo rates more than double 2019 levels.

Asia-US rates for this week

  • Asia-US West Coast prices (FBX01 Weekly) fell 3% to $1,361/FEU. This rate is 91% lower than the same time last year.
  • Asia-US East Coast prices (FBX03 Weekly) dipped 2% to $2,812/FEU, and are 83% lower than rates for this week last year.
  • Asia-N. Europe prices (FBX11 Weekly) increased 10% to $2,978/FEU, and are 79% lower than rates for this week last year.

Check in next week for more real-time freight market updates to help you ship smoother.

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More rates from Freightos.com

FBX LaneGlobalAsia – US West CoastAsia – US East CoastAsia – North EuropeNorth Europe – US East Coast
This Week*$2,238$1,361$2,812$2,978$5,507
Last Week*3%-3%-2%10%8%
Last Year*-77%-91%-83%-79%-19%
* Weekly rates, compared to the corresponding week in 2022

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