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Chick-News.com Poultry Industry News, Comments and more by Simon M. Shane

Transpacific Shipping Rates Fall

08/24/2022

The Shanghai-Los Angeles rate for a 40-foot equivalent container fell five percent in the past week to $6,521, down 41 percent year-over-year.  The cost from Shanghai to New York was $9,710, down 28 percent from mid-August 2021.  In contrast, transatlantic rates remain high with the Rotterdam to New York route at $6,936 per container, up eight percent year-on-year.

 

It is understood that despite falling rates, shipping lines benefit from contracts that cover at least half their volume, although annual contract rates closely correspond to current spot rates.  The FBX Europe to East Coast and FBX Asia-West Coast indexes were 4.9 times higher than three years ago, indicating the added cost for freight, post COVID.

 


 


 
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