With recent news of overwhelming demand causing shipments to be rolled even on newly minted, extremely expensive annual contracts, now’s a good time to take a look at our recent report on how BCOs and freight forwarders are adapting their approach to annual tender negotiations going forward.
Ocean rates remain extremely elevated on most lanes, with Asia-North Europe rates climbing 7% to a new high, and US East Coast-Asia backhaul prices spiking 25% to $1,022/FEU.
Recent analysis shows that even with months of peak-level volumes, strong sales are preventing retailers from building inventories, meaning possible holiday season stockouts and elevated ocean rates even once consumer demand cools.
- Asia-US West Coast prices (FBX01 Daily) fell 3% to $5,473/FEU. This rate is still 218% higher than the same time last year.
- Asia-US East Coast prices (FBX03 Daily) increased 1% to $7,481/FEU, and are 173% higher than rates for this week last year.
Source: FBX Weekly