On Gateway
By the Numbers
An extensive , multi-channel , interactive freight shipping dashboard can be found at www . joc . com / gateway / about .
Asia – US spot rate drop in contrast to market strength
Container spot rate index from China to US West and East coasts
Price level
3,000 |
2,697 |
2,500 |
2,000 |
1,000 |
L |
1,500 |
|
|
|
|
1,000 |
|
|
|
|
500 |
|
|
|
|
0 |
|
|
|
|
Jan L2022 |
Jul |
Jan 2023 |
Jul
Aug , 2023
|
Jan 2024 |
China to US West Coast |
China to US East Coast |
Source : Shanghai Shipping Exchange © 2024 S & P Global
On Gateway
Container spot rates from Asia to the United States are dipping , but the decline belies market strength — even as US retailers slow-walk annual service contracts . Rates held up better during the seasonal demand drop tied to Lunar Near Year celebrations in Asia , and carriers are adding capacity . Reflecting both contract and spot rates , price levels are still up more than 40 % year over year , according to the China Containerized Freight Index . Track spot and contract pricing on trans-Pacific trade on Gateway .
The Gateway ( www . joc . com / gateway ) is an online shipping dashboard of more than 140 continuously updated charts from S & P Global and identified external data sources organized by trade lane , mode and topic .
US truckload spot rate slip from year-to-date high
DAT Freight and Analytics reports a downward trend in the average contracted freight rates for dry-van transportation . After reaching a peak of $ 1.74 per mile earlier this year , rates have steadily declined . As of March 16 , 2024 , the spot rate stands at $ 1.56 per mile , flat from the previous week but down 7.7 % from to the same week last year .
$ 1.80 $ 1.7 5 $ 1.7 0 $ 1.65 $ 1.60
|
$ 1.55
$ 1.50
15-A pr-2 3
|
13 -M ay-2 3 |
10-Jun-2 3 |
08-Jul-2 3 |
05-A ug-2 3 |
02 -Sep-2 3 |
3 0-Sep-2 3 |
2 8-Oct-2 3 |
2 5-Nov -2 3 |
2 3 -D ec-2 3 |
2 0-Jan-2 4
D own 7 . 7 % from M arch 2 02 3
17 -F eb-2 4
16-M ar-2 4
|
Source : DAT Solutions © 2024 S & P Global
Drewry Hong Kong – Los Angeles Spot Rate Benchmark
The rate shown here is in US dollars and excludes terminal-handling charges in Hong Kong . Drewry tracks spot rates on 600-plus global lanes including Hong Kong – Los Angeles by surveying non-vessel-operating common carriers ( NVOs ) and also tracks contract rates on 8,000-plus lanes via its BCO Benchmarking Club .
HOLDS STEADY : The March 27 , 2024 , average spot rate from Hong Kong to Los Angeles of $ 3,869 per FEU was flat from the prior week but up $ 2,744 ( 243.9 %) year over year . The March 27 , 2024 , average spot rate was down $ 1,381 ( 26.3 %) from the 2024 calendar high set in the last week of January .
$ 6,000 $ 5,000 $ 4 , 000 $ 3 , 000 $ 2 , 000 $ 1,000
Rate per 40-foot box PERCENT CHANGE : Year-over-year Week-to-week
H igh : $ 8,585 03 / 02 / 2 02 2 L ow : $ 62 3 04 / 2 5 / 2 016
500 4 00 3 00 2 00 100 0
$ 0 10 / 19 / 2 02 2
03 / 2 7 / 2 02 4
-100
Source : Drewry ’ s Container Freight Rate Insight
© 2024 S & P Global
50 Journal of Commerce | April 8 , 2024 www . joc . com