Freightos Freight Index Update

March 13-19 2017 (W11)

By Noam Fraenkel, VP Data & Analytics, Freightos

Before you dive in, we just wanted to let you know that you can now download charts or data directly from the index. Head over now to check it out or learn more here

China-US Ocean Freight Trends

40′ container rates for China – US West Coast and China – US East Coast are still easing. This is expected as per standard spot rate seasonality which dictates gradual price easing between the Chinese New Year and peak-shipping season in late summer/early fall. Widely-reported carrier relief of higher pricing in 2017 may be tempered by the third consecutive week of China-East Coast pricing lower than last year and the first week of China-West Coast pricing lower than last year.

In the statistics corner…

China – US (Blended) is almost a composite of the other two groups but it actually increased slightly. This is not an error. The Freightos International Freight Indexes tracks the median of rates, not the mean, in order to reduce the impact of outliers. As a result, when a group is essentially a composite of two other groups with different medians (eg China – West Coast and China – East Coast),  rate changes at the intersection of the two groups’ outliers can produce some surprising results.

Trans-Atlantic Ocean Rates

Although spot rates from the US to Europe haven’t changed markedly from last week, 2017 has been characterized by rapid fluctuations, especially when compared to the same period last year. Rates in the opposite direction continue their climb after bottoming out at $1,375 in early March.

China-Europe

After little change for the past three weeks, China-Europe shipping rates dropped slightly. It is still essentially following last year’s trend, a long slump following the peak shipping season, which should soon bottom out.

SEE INTERACTIVE CHARTS HERE
Route Price 1 Trend
China – US Blended $1,740 ?
China – US East Coast $2,849 ?
China – US West Coast $1,412
US – Europe $300 ?
Europe – US $1,420 ?
China – Europe $1,565 ?

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.

Get even more live index data for free here.

SEE THE FIFI INDEX