Data highlights:
- Average spot rates from Far East to US East Coast and US West Coast remain flat since 15 March after falling 47% and 56% respectively since 1 January.
- Average spot rate from Far East to US East Coast on 28 March stands at USD 3 625 per FEU (40ft container).
- Average spot rate from Far East to US West Coast on 28 March stands at USD 2 580 per FEU.
- Average spot rates on Far East to US fronthaul trades expected to increase USD 300-600 per FEU on 1 April following General Rate Increases (GRI).
- GRIs suggested by the carriers across all Far East fronthaul trades range from USD 1 000 - 3 000 per FEU, which means they have only achieved very limited success.
- Average spot rates from Far East to Mediterranean on 28 March stand at USD 3 350 per FEU.
- Average spot rates from Far East to North Europe on 28 March stand at 2 350 per FEU.
- Average spot rates from Far East to North Europe and Mediterranean expected to remain flat on 1 April.
Xeneta analyst insight – Far East to US
Peter Sand, Xeneta Chief Analyst:
“We live in a volatile market so, while the general direction of travel has been downward for spot rates from the Far East to US since 1 January, we should expect some bumps in the road.
“Carriers will chance their arm and push GRIs during times of heightened uncertainty. Nervousness in the market means they can have some success too, even if it seems to defy the underlying balance of supply and demand.
“The ongoing public hearing into proposals for fees on Chinese vessels and carriers entering US ports, as well as Trump’s wider tariff threats, have allowed carriers to tap into shippers’ fears of another period of supply chain disruption.
“However, the rate increases on 1 April will fall way short of carriers’ GRI expectations, which suggests they will be short-lived and markets will continue to soften.”
Ends
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Xeneta’s Media Contacts:
Philip Hennessey
Director of External Communications
Xeneta
+44 7830 021808
press@xeneta.com
