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Global shipping crisis impact on trade with Red Sea map and freight vessels

What will happen when Shanghai reopens?

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

Majd Shuman

Blog

Weekly highlights

With ocean carriers removing capacity, ocean rates out of Asia may have stopped their slide, though Asia – US West Coast prices are 15% lower than before the Shanghai lockdown, and Asia – Europe rates have declined 21% since early March.

Authorities in Shanghai announced that the reopening will start soon with an aim of a full rebound by late June. Though some observers expect surging exports, container rates and congestion levels as a result, others think that ocean logistics will be able to absorb a gradual reopening without extreme detrimental impacts.  

Asia-US rates for this week

  • Asia-US West Coast prices (FBX01 Daily) increased 14% to $13,935/FEU. This rate is 97% higher than the same time last year.
  • Asia-US East Coast prices (FBX03 Daily) were unchanged at $15,963/FEU, and are 113% 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$8,520$13,935$15,963$10,583$8,395
Last Week4%14%0%0%0%
Last Year*69% 97%11318%96%
* Compared to the corresponding week in 2021

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