US West Coast Freight Rates Up 13.8%! Global Shipping Rates Diverge Further!

1. Key Route Freight Rate Trends

Europe & Mediterranean Routes: Sustained Declines

• Europe Basic Ports: The market freight rate (including sea freight and maritime surcharges) for shipments from Shanghai Port to Europe’s basic ports was USD 1,315 per TEU, a 11.2% decrease from the prior period.

• Mediterranean Basic Ports: The freight rate for Shanghai Port to Mediterranean basic ports (including sea freight and surcharges) reached USD 1,971 per TEU, falling 8.1% compared to the previous period.

North American Routes: Rebound Driven by Sailing Cuts

• US West Coast: The spot market booking rate from Shanghai Port to US West Coast basic ports (including sea freight and surcharges) was USD 2,189 per FEU, up 13.8% week-on-week.

• US East Coast: The rate for Shanghai Port to US East Coast basic ports stood at USD 3,073 per FEU, a 7.2% weekly increase.

Other Routes: Mixed Performances

• Persian Gulf Routes: After a period of continuous growth, rates declined. Shanghai Port to Persian Gulf basic ports (including sea freight and surcharges) cost USD 1,519 per TEU, down 3.8%.

• Australia-New Zealand Routes: Rates edged down from recent highs, with Shanghai Port to Australia-New Zealand basic ports at USD 1,313 per TEU (a 0.9% decrease).

• South American Routes: Following a long stretch of declines, rates rebounded. Shanghai Port to South American basic ports reached USD 3,199 per TEU, rising 5.7%.

• Japan Routes: The market stayed stable with slight rate growth; the freight index for China-to-Japan routes hit 963.07 points.

2. Advisory for Freight Forwarders & Shippers

• Understand the latest freight rate trends in advance before arranging shipments;

• Check the newest sailing schedules promptly;

• Develop comprehensive cargo transportation plans to mitigate cost and schedule risks.