According to the Freightos Baltic Index (FBX) spot rates on the Asia-US West Coast (USWC) route fell 3% to US$2,479/ FEU last week, which is 87% lower than the same time last year. Meanwhile, on the Asia-US East Coast (USEC) route they fell by 2% to US$5,671/ FEU, 71% lower than rates for this week in 2021.
Looking at Drewry's World Container Index data, Lars Jensen confirms that the downward trajectory of spot rates did not change in the first week of November, although it showed mild declines of -4% in Asia-Europe and -3% in Asia-Northern Europe and Mediterranean. Asia-USWC also saw a softer decrease at -2%, while spot rates to USEC were down -6%. A fact he interprets as a "harbinger of further normalization to bring USWC and USEC to more normal levels."
It has been anticipated that the shipping lines would reinforce their trench and seek to defend spot rates, through the well-known tool of blank sailing. Have they succeeded? Last week for the first time there was talk of a slowdown in the rate drop. At least that's how it was put by FBX which, broadening the focus to what happened in October, noted that rates from the Far East fell by 18% for USWC, and 16% for USEC.
Looking at Drewry's World Container Index data, Lars Jensen confirms that the downward trajectory of spot rates did not change in the first week of November, although it showed mild declines of -4% in Asia-Europe and -3% in Asia-Northern Europe and Mediterranean. Asia-USWC also saw a softer decrease at -2%, while spot rates to USEC were down -6%. A fact he interprets as a "harbinger of further normalization to bring USWC and USEC to more normal levels."
It has been anticipated that the shipping lines would reinforce their trench and seek to defend spot rates, through the well-known tool of blank sailing. Have they succeeded? Last week for the first time there was talk of a slowdown in the rate drop. At least that's how it was put by FBX which, broadening the focus to what happened in October, noted that rates from the Far East fell by 18% for USWC, and 16% for USEC.
SOURCE: MUNDO MARÍTIMO