The average year-to-date (YTD) composite index is $3,946 per FEU, which is $1,084 higher than the 10-year average of $2,862 (inflated by the exceptional 2020-22 COVID period).
Freight rates from Shanghai to Los Angeles increased by 26 per cent or $917 to $4,499 per FEU, and those from Shanghai to New York increased by 17 per cent or $875 to $6,074 per FEU. Similarly, rates from Rotterdam to New York edged up by 3 per cent or $91 to $2,713 per FEU.
On the other hand, rates from Shanghai to Genoa and from Rotterdam to Shanghai decreased by 2 per cent to $5,424 per FEU and $508 per FEU, respectively. Rates from New York to Rotterdam and from Shanghai to Rotterdam shrank by 1 per cent to $824 per FEU and $4,819 per FEU, respectively, while those from Los Angeles to Shanghai remained stable.
Drewry expects an increase in rates on the Transpacific trade in the coming week, driven by front-loading ahead of the looming ILA port strike in January 2025 and the anticipated tariff hikes under the incoming Trump Administration.
ALCHEMPro News Desk (KUL)
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