China-US West Coast prices (FBX01 Daily) are currently $1,643/FEU, up 18% from the end of June. A few carriers modestly raised prices mid-month which brought prices back to the July 1 price increase level. 

So far the year on year decrease in China’s export container volumes hasn’t affected prices, likely due to other south-east Asian export destinations picking up slack. Carriers have added two new direct calls to Haiphong on their strings. 

We’ll likely see another significant price rise in August based on these indicators: space is still reasonably tight, prices are still on par with last year, and blank sailings are continuing into August.

China-US East Coast prices (FBX02 Daily) are currently $2,952/FEU, up 12% from the end of June. Similarly, a few carriers modestly raised prices mid-month, which brought prices back to the July 1 price increase level. 

With Panama now well into the wet season, further canal draft reductions have been suspended “until further notice”. 

“Even though the next (and most substantial) China trade tariff has been temporarily deferred, there’s still a backlog of advance orders becoming shipment-ready. Carriers will hope this additional boost keeps demand up for a few more weeks while peak season demand is ramping up.

Carriers are now gearing up for peak season. Although several just modestly increased prices, most backed off and are holding back until August. For example, two carriers who would have been the earliest to bring in peak season surcharges recently postponed their introduction from July to next month.” 

- Eytan Buchman, CMO, Freightos