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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|FBX Lane||Global||Asia – US West Coast||Asia – US East Coast||Asia – North Europe||North Europe – US East Coast|
|* Weekly rates, compared to the corresponding week in 2022|