AJOT | August 12, 2020 | Maritime | Liner Shipping
Key insights:
1 Peak season volumes out of China kept ocean rates to the US climbing, sending China-US West Coast prices (FBX01 Daily) to a new all-time FBX high of $3058/FEU.
2 The $1200 or 42% average premium to ship from China to East Coast ports compared to the West Coast has fallen by half since June. This week East and West Coast rates were separated by only $408 or 12% - an all-time FBX low. One driver may be lacking confidence in how long consumer demand will stay shored up.