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Sea freight plummeting?

  • Author:Karen Hu
  • Source:https://www.sofreight.com/news
  • Release on:2022-07-04
On June 24th, the market freight rate (sea freight and sea freight surcharge) of Shanghai port to west America and East America base port was 7,378 US dollars /FEU and 9,804 US dollars /FEU respectively, down 1.5% and 2.7% compared with the previous period respectively.  For the first time since July 30, 2021, freight rates on the Eastern U.S. line fell below the $10,000 mark per 40-foot container.


In terms of European lines, the freight rate of Shanghai port to European base port market (sea freight and surcharge) was $5766 /TEU, down 0.5% compared with the previous period.  The market freight rate of Shanghai port to Mediterranean base port (sea freight and sea freight surcharge) was $6425 /TEU, down 1.0% compared with the previous period.


"Shipping rates from China to the West dropped from around 13,000 dollars before the Spring Festival to around 8,000 or 9,000 dollars in late March," said a U.S. shipper.  Due to the high shipping price last year, people's ability to bear the price is relatively poor now, so they are not in such a hurry to ship, and the shipment volume has decreased significantly.  It was almost $8,000 in June, and there's room to go down."


Data show that the volume of containers imported by the 10 largest U.S. ports has fallen by an average of 25 percent since May, while the number of ships waiting to unload at the ports of Los Angeles and Long Beach has recently dropped to 22 from 109 in January, according to the Southern California Maritime Exchange. er of ships waiting to unload at the ports of Los Angeles and Long Beach has recently dropped to 22 from 109 in January, according to the Southern California Maritime Exchange.