News
Trans-Pacific weekly average freight rates increased 14% from the previous week to $1,908 per FEU to the U.S. West Coast (FBX01 Weekly) and 9% to $2,912 per FEU to the East Coast (FBX03 Weekly) in Week 32, according to the Freightos Baltic Index (FBX), a freight index issued by the Baltic Exchange and Freightos. Weekly averages rose 8% to $1,789 per FEU from Asia to North Europe (FBX11 Weekly) and 3% to $2,404 per FEU from Asia to the Mediterranean (FBX13 Weekly).
Ocean rates remained elevated on early-August GRIs through the end of last week as peak season volumes have increased moderately alongside increases in blanked sailings, Freightos said. While low water restrictions are causing some congestion for vessels using the Panama Canal, some reports say that shippers are not feeling the pain in higher rates or long delays in getting goods—just yet.
As for air freight rates, China-U.S. weekly prices picked up 3% to $3.57 per kilogram, according to the Freightos Air Index (FAX), while China-North Europe weekly prices were down 4% to $3.01 per kilogram. North Europe-U.S. weekly prices increased 4% to $1.76 per kilograms.
The FBX reflects weekly spot rates for 40-foot containers based on 18 million price points collected every week on 12 main shipping trade lanes.
