Spot rates for container freight on Transpacific trade to the east and west coast of the United States are in decline, and although it’s early days, it could be a harbinger of better times to come for shippers feeling the squeeze of a five-fold increase in carrier costs.
According to the Freightos Baltic Index (FBX), rates for the China-US west decreased from $20 143 per 40ft box to $19 173.
As recently as September 10, FBX recorded an all-time high of $20 586 on this route.
Similar decreases were recorded on east coast routes, with long box rates dipping from $21 823 to $21 697.
That rate recorded on September 10, also an all-time high, was $22 173.
Supply chain portal Loadstar said that analysts at the Ningbo Containerised Freight Index “suggested the declines could be due to a slight loosening of capacity in advance of Chinese National Day, which takes place on October 1 and lasts for three days.”
