Spot rates from Shanghai to Los Angeles rose 4 per cent to $2,290 per 40ft container, while those to New York climbed 6 per cent to $3,420. Drewry expects rates to rise slightly next week as carriers come under pressure to lift prices ahead of annual contract negotiations, following General Rate Increases (GRIs) implemented in mid-October.
Carriers plan to introduce additional GRIs on November 1 and November 15 to secure higher prices before the current increases fade. Spot rates on the Asia–Europe route also strengthened, with rates from Shanghai to Rotterdam up 4 per cent to $1,736 and to Genoa up 2 per cent to $1,855.
Freight rates from Rotterdam to Shanghai gained 1 per cent to $458 per FEU, and New York to Rotterdam rose 1 per cent to $856 per FEU. However, rates from Los Angeles to Shanghai held steady at $709 per FEU, while those from Rotterdam to New York declined 4 per cent to $1,720 per FEU.
To prevent further declines, carriers have announced new Freight All Kinds (FAK) rates effective November 1, ranging between $2,600 and $2,700 per 40ft container.
However, Drewry’s Container Forecaster projects that the supply–demand balance will weaken over the next few quarters, leading to a contraction in spot rates.
ALCHEMPro News Desk (KUL)
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