Freight Insights Freightos Index Update

Freight Index Update: 9 April 2017 (W14)

Rates are looking up.

Last Sunday’s Freightos Index kicked off with little to no signs of a GRI, with three core lanes showing no movement, and two (China – US West Coast and Europe – US) heading down.

But by the middle of last week, China-US (West Coast) rates had climbed significantly. Carrier hikes had a high degree of variance, with most carriers only increasing rates by up to 3%, while five increased rates by a more substantial 12% – 20%.

Which brings us to this week.

GRIs kicked in. The biggest week-on-week rise was on US-Europe, where a full 33% increase was observed (translating into a $100 increase).

The China – US (West Coast) trade lane came in next at an 11% increase. Facing new competition and already high prices, non-alliance carrier rates remained static with an average increase of 1%.

Their prices still remain higher on average than their allied counterparts, though, even though alliance carriers increased rates on average by a surprising 10%.

Europe-US and China-Europe came in with more modest increases.

Only China – US (East Coast) didn’t climb, with rates falling by 4%.

RouteMedian RateWOW Trend
China – US West Coast$1,46211%
China – US East Coast$2,600-4%
US – Europe$40033%
Europe – US$1,4816%
China – Europe$1,5403%

 

About the Freightos International Freight Index

Unlike other freight indexes, the Freightos International Freight Index (FIFI) uses aggregated and anonymized real-time business data from global carriers, forwarders and shippers on the Freightos AcceleRate freight rate management platform. That’s why we believe these indexes to be the most accurate and real-time representation of market rates available. What’s more, it’s offered for free.