SPOT rates for shipping containers fell for the first time in almost three months as an earlier-than-usual peak season for retail restocking commenced, reports the Times of India.
The Drewry World Container Index composite of eight major trade lanes dropped 2.2 per cent to US$5,806 for a FEU, ending a 12-week-long advance.
Tuesday, August 6, 2024. That's still about three times higher than the rate posted at the end of 2023 - when cargo ships started diverting en masse away from the Red Sea to avoid Houthi attacks.
Rates surged unexpectedly in the second quarter on strong US demand for goods as importers raced to stock up ahead of higher American tariffs on Chinese products, and as concerns grew about a dock strike on the east and Gulf Coasts later this year.
The benchmark Shanghai-to-Los Angeles rate dropped for a second straight week, sinking 4.9 per cent to $6,934. Shanghai to Rotterdam was little changed at $8,260, Drewry's figures showed.
Those prices mirror the softening of a tight market reflected in short-term container rates released earlier this week by Freightos, a cargo-booking platform.
Spot rates that include premiums and surcharges on Asia-US west coast services fell four per cent to $7,738, while the cost to northern Europe from Asia sank two per cent.
SeaNews Turkey
The Drewry World Container Index composite of eight major trade lanes dropped 2.2 per cent to US$5,806 for a FEU, ending a 12-week-long advance.
Tuesday, August 6, 2024. That's still about three times higher than the rate posted at the end of 2023 - when cargo ships started diverting en masse away from the Red Sea to avoid Houthi attacks.
Rates surged unexpectedly in the second quarter on strong US demand for goods as importers raced to stock up ahead of higher American tariffs on Chinese products, and as concerns grew about a dock strike on the east and Gulf Coasts later this year.
The benchmark Shanghai-to-Los Angeles rate dropped for a second straight week, sinking 4.9 per cent to $6,934. Shanghai to Rotterdam was little changed at $8,260, Drewry's figures showed.
Those prices mirror the softening of a tight market reflected in short-term container rates released earlier this week by Freightos, a cargo-booking platform.
Spot rates that include premiums and surcharges on Asia-US west coast services fell four per cent to $7,738, while the cost to northern Europe from Asia sank two per cent.
SeaNews Turkey
