Container Shipping Quarterly
Special Report
The West Coast delays , made worse by a third-quarter cargo surge , are risking time-sensitive agriculture exports , a source said . The Pacific Merchant Shipping Association ( PMSA ) reported that dwell times for rail-bound containers at the ports of Los Angeles and Long Beach rose to 9.25 days on average in September , the highest since October 2022 .
Freight rates have softened for westbound trans-Pacific routes from the US East Coast . Platts , a sister company of the Journal of Commerce within S & P Global , assessed spot rates for cargo bound for North Asia at $ 400 per FEU as of Oct . 24 , down 11 % from the previous week and 27.3 % from the same week last year .
“ It ’ s temporary but very disruptive .”
from the East Coast , sources do not expect further degradation as long as import rates remain around current levels , which impacts carrier margins on exports .
The NVO source said shipping schedules that were briefly disrupted by the short-lived strike at East and Gulf coast ports will soon
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return to a more normal cadence . However , that return to normalcy will rely in part on East Coast exports returning to pre-strike levels , especially as West Coast ports continue to work to clear out backlogs .
email : laura . robb @ spglobal . com
West Coast – Asia export rates of $ 300 per FEU were unchanged both sequentially and year over year .
Despite the decline in outbound rates
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November 18 , 2024 | Journal of Commerce 25 5 / 2 / 24 4:13 PM