XODD Summary:
In recent months, spot rates on major trade routes originating from the Far East have experienced a robust resurgence, overturning the declines recorded between February and April. This recovery has propelled rates beyond their earlier peaks, last seen during the height of the Red Sea crisis.
As of June 18, the average spot rate for shipments from the Far East to the US West Coast reached USD 6,470 per FEU, marking a substantial 34% increase from the early February peak of USD 4,820. Similarly, the average spot rate for the Far East to the US East Coast climbed to USD 7,500 per FEU, a 20% rise from its previous peak of USD 6,260. Additionally, the spot rate markets from the Far East to Europe have shown significant gains, further highlighting the widespread nature of this recovery. This report delves into the factors driving this resurgence and its implications for global trade dynamics.
Read the full report for insight on:
- Spot rates from Far East to North Europe
- Spot rates from Far East to Mediterranean
- Spot rates from Far East to US East Coast
- Themes of Capacity's Impact
.png){kind=logo}