- China-US West Coast prices (FBX01 Daily) are currently $1,440/FEU, 11% down on last week. While that’s not a great sign for peak season, prices are still up 12% compared to the end of August.
- China-US East Coast prices (FBX02 Daily) are relatively stable at $2,724/FEU, marginally down on last week. The 7% increase at the beginning of the month has been mostly eroded.
“With rush ordering before October’s tariff increase now over, carriers are content with keeping transpacific prices steady, canceling a mid-month price increase and holding back on peak season surcharges. Shipping a 40’ container from China to the US currently costs 34% less than the same time last year…but the comparison isn’t fair given 2018’s abnormally high prices.
The bottleneck of Chinese exports around Golden Week along with Black Friday prestocking will likely lift demand in October. November is when peak season will likely really take off, near-record imports are predicted in advance of December’s tariff change.
Of course, this could go in any direction – the potential for even more tariff changes or Mid-East tension-related fuel shortages could quickly throw a wrench in price changes.”
- Eytan Buchman, CMO, Freightos
