On Gateway
By the Numbers
An extensive , multi-channel , interactive freight shipping dashboard can be found at www . joc . com / gateway / about .
Asia – Europe spot rates spike amid tight capacity , port delays
Average Asia to Europe container freight rates , under short-term contracts of 32 days or less
USD per FEU
$ 15,934 $ 14,000
$ 12,000 $ 10,000 $ $ 10,000 8,000 $ 6,000 $ 4,000
On Gateway
Shippers on Asia – Europe trades are fighting to keep their weekly allocations from carriers in place as demand from an early peak season tightens capacity . Asia outbound spot rates have been rising since late April , according to Xeneta . Track the abrupt market turn on major ocean trades on Gateway .
$ 2,000 $ 0
L Jul Jan 2022 Jul Jan 2023 Jul Jan Feb 2024 , 2024
Asia-North Europe Asia-Mediterranean
Source : Xeneta © 2024 S & P Global
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 saw upward pressure late-May
Weekly truckload spot rates per mile excluding fuel surcharges . DAT Freight and Analytics data shows a downward trend in contracted freight rates for dry van transportation since early 2024 . However , there were positive signs in the spot market during the last two weeks of May . As of May 25 , 2024 , the latest spot rate reached $ 1.63 per mile , which was a significant increase from the previous weeks . Despite this improvement , spot rates were still down 2.6 % compared to the same period last year .
$ 1.80 $ 1.7 5 $ 1.7 0
D own 2 . 4 % from June 2 02 3
$ 1.65 |
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$ 1.60 |
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$ 1.55 |
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$ 1.50 |
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2 4 -Jun-2 3 |
2 2 -Jul-2 3 |
19-A ug-2 3 |
16-Sep-2 3 |
14 -Oct-2 3 |
11-Nov -2 3 |
09-D ec-2 3 |
06-Jan-2 4 |
03 -F eb-2 4 |
02 -M ar-2 4 |
3 0-M ar-2 4 |
2 7 -A pr-2 4 |
2 5-M ay-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 .
NEW YEAR-TO-DATE HIGH : The June 5 , 2024 , average spot market rate from Hong Kong to Los Angeles of $ 6,462 per FEU was up $ 125 ( 2.0 %) from the prior week and $ 4,862 ( 357.5 %) year over year .
$ 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
06 / 05 / 2 02 4
-100
Source : Drewry ’ s Container Freight Rate Insight
© 2024 S & P Global
42 Journal of Commerce | June 17 , 2024 www . joc . com