AJOT Newsroom
| September 15, 2022
| Maritime | Liner Shipping
This week's key updates in the international freight markets include:
1 A major US rail workers strike set for Friday threatens to make East Coast port congestion even worse and create backlogs across the country.
2 Transpacific ocean rates continued to fall this week, and carriers are announcing blanked sailings through October in response.
3 The latest National Retail Federation data show that monthly import volumes will continue to decline gradually through the end of the year, but even so monthly volumes will be at least 12% higher than in 2019, and total import volumes for 2022 would set a new annual record.
4 Transatlantic rates – that had climbed or stayed elevated while other lanes decreased this year and are now more than 1.5X more expensive than Asia – US West Coast rates – have dipped 20% so far this month, possibly a sign that carriers are shifting capacity to this more lucrative lane.
Asia-US rates:
• Asia-US West Coast prices (FBX01 Daily) fell 10% to $3,896/FEU. This rate is 80% lower than the same time last year.
• Asia-US East Coast prices (FBX03 Daily) dipped 2% to $8,553/FEU, and are 61% lower than rates for this week last year.
