Freight 101 Blog

What will happen when Shanghai reopens?

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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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