Intra-Asia freight rates are expected to remain elevated through January as tight capacity continues during an extended peak season ahead of the Lunar New Year, reports London's S&P Global.
Rates on services between China and Southeast Asia have reached multi-month highs, driven by frontloading ahead of reciprocal tariffs between the US and China, which have since been paused. Carriers are announcing general rate increases of US$50 to $150 per TEU on a bi-weekly basis, according to FIBS Logistics in Singapore.
Spot rates from Shanghai to Singapore hit $540 per TEU last week, the highest since Jan. 10, data from the Shanghai Shipping Exchange showed. Xeneta reported similar trends, with FEU rates from Shanghai to Singapore climbing to $1,110, the highest since June.
Rates from Shanghai to Bangkok reached $1,431 per FEU, the highest since August 1, while Shanghai to Ho Chi Minh City rose to $1,045 per FEU, last seen in July. Analysts said this year's pre-Christmas peak will merge into the pre-Lunar New Year rush, as factories in China close early to allow workers to return home.
Chinese customs data showed exports to ASEAN grew US$61 billion between February and September, while exports to Northeast Asia increased US$41 billion. Exports to the US fell $70 billion in the same period due to tariff disputes.
Oxford Economics said ASEAN now accounts for a steadily rising share of China's outbound shipments, offsetting weaker demand in developed markets in the US and Northeast Asia.
SeaNews Turkey
Rates on services between China and Southeast Asia have reached multi-month highs, driven by frontloading ahead of reciprocal tariffs between the US and China, which have since been paused. Carriers are announcing general rate increases of US$50 to $150 per TEU on a bi-weekly basis, according to FIBS Logistics in Singapore.
Spot rates from Shanghai to Singapore hit $540 per TEU last week, the highest since Jan. 10, data from the Shanghai Shipping Exchange showed. Xeneta reported similar trends, with FEU rates from Shanghai to Singapore climbing to $1,110, the highest since June.
Rates from Shanghai to Bangkok reached $1,431 per FEU, the highest since August 1, while Shanghai to Ho Chi Minh City rose to $1,045 per FEU, last seen in July. Analysts said this year's pre-Christmas peak will merge into the pre-Lunar New Year rush, as factories in China close early to allow workers to return home.
Chinese customs data showed exports to ASEAN grew US$61 billion between February and September, while exports to Northeast Asia increased US$41 billion. Exports to the US fell $70 billion in the same period due to tariff disputes.
Oxford Economics said ASEAN now accounts for a steadily rising share of China's outbound shipments, offsetting weaker demand in developed markets in the US and Northeast Asia.
SeaNews Turkey
