Welcome to GLA! Leading the global logistics alliance.

With the Spring Festival approaching, freight rates on the west coast of the United States soared

Time:2022-01-25 Publisher:Kevin Num:3469

The crisis of global port congestion continues, and the west coast of the United States is facing a serious test. Due to the congestion of the port, the price of freight has been raised again.

However, under the influence of Omicron, a large number of port workers had to rest at home. This has greatly reduced the capacity of the port to handle containers.

This further affects the price of freight. As far as the US west route is concerned, the price of containers sent to the west coast of the United States has also increased significantly.

Today's Drewry's WCI index and the Baltic FBX index show that freight rates on the west coast of the United States show an upward trend.

According to Drewry's WCI index, freight from Asia to the west coast of the United States increased by 5% year-on-year last month, and the current price is $11197 / FEU.

The FBX index of the Baltic Sea shows that the current freight of this route has increased by 3.5% and the price is US $15145 / FEU.

In the east coast of the United States, the spot freight rate index is better. Drewry's WCI showed that spot prices rose 2% to $13987 / FEU. The Baltic FBX fell 2.5% to $17023 / FEU.

In fact, now North America, whether the United States or Canada, is facing the situation of ships waiting in line to enter the port. And there are mountains of goods in the port.

Due to the serious congestion, shipping companies such as Maersk began to choose to skip the port to avoid shipping delays. Maersk recently issued an announcement that it will continue to maintain normal transportation work after the Spring Festival holiday to ensure the reliability of shipping schedule.

In fact, the level of container freight rate in Asia is also quite high. According to Ningbo container freight index (ncfi), the freight rates of at least 9 routes are gradually rising.

Freight rates in Europe are also rising. The current average Liverpool New York container price is $6900 per 40 feet, up from $1800 a year ago.

In addition, according to the data of WCI and FBX, the spot freight rate from Asia to northern Europe was basically flat in the last week, which was US $14053 / FEU and US $14578 / FEU respectively.

Prev：There is a downward trend in the freight rate of all routes, and the price is expected to return to the normal level？Next：Omicron is leading many factories stop working,the freight might rise again