NEW LOW IN U.S. CONTAINER FREIGHT RATES

According to SHIFEX, the new trend in shipping rates indicates a power shift away from carriers.

Shifl’s data shows the shipping rate for a 40’ container from China to the U.S. West Coast is set to fall below $5,000 for the first time since the spike caused by the pandemic. Shipping a 40’ container from China to Los Angeles and Long Beach will now cost, on average about $4,900 in September 2022, which is a 72 percent decline Y-O-Y from a high of USD17,500 in September 2021.

On the all-water route from China to New York, the year-on-year decline was also significant but less drastic compared to the West Coast, with 40’ container rates set to drop 54 percent to an average of $8,900 compared to $19,500 in September 2021.

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