25.07.03FBX Down 19.7% to $2,894

The latest Freightos Baltic Index (FBX) has quoted $2,894, down 19.7% from a week earlier and 34.9% from a year earlier, according to Freightos.

Asia-North America west coast rates (FBX01) fell 39% to $3,389 per FEU; Asia-North America east coast (FBX 03), 15% to $6,119 per FEU; Asia-North Europe (FBX 11), 4% to $2,969 per FEU; and Asia-Mediterranean (FBX 13), 5% to $4,223 per FEU.  

Asia-North America west coast rates climbed more than $3,000 per FEU and 115% from the end of May to mid-June to a high of about $6,000 per FEU. But by the end of last week, demand and capacity factors combined to push trans-Pacific container rates down sharply. Last week’s average of $3,388 per FEU was 43% below the June peak, though it was still 22% higher than the end of May.

Rates to North America east coast behaved similarly though not as dramatically as demand was stronger on the shorter west coast lane, and carriers focused on capacity additions to the west coast as well. East coast rates climbed 80% from late May to mid-June to about $7,200 per FEU but closed the month 15% lower at $6,116 per FEU.

Asia–Europe and -Mediterranean rates each closed June up 25% month on month at $2,969 per FEU and $4,222 per FEU respectively.

The FBX, a daily freight container index issued by Freightos and the Baltic Exchange, measures global container freight rates by calculating spot rates for 40-foot containers on 12 global trade lanes.