AJOT Newsroom
| June 29, 2022
| Maritime | Liner Shipping
Key insights:
1 More indications from inbound volumes, Asian manufacturing orders, and growing US inventories for certain goods, add to signs that US demand for imports is slowing.
2 Falling transpacific ocean rates add to this hypothesis, as Asia - US prices to both coasts dropped by more than 13% since last week, and are at least 13% lower than this time last year – the first annual decrease since H1 2020. West Coast rates have now fallen more than 50% in Q2.
3 Of the major tradelanes, only transatlantic ocean prices are higher than at the start of the year. Europe – US East Coast rates are 42% higher than a year ago, and about 4X pre-pandemic norms as strong demand and port congestion have combined to keep rates elevated.
