On Gateway
By the Numbers
An extensive , multi-channel , interactive freight shipping dashboard can be found at https :// www . joc . com / gateway / about
Asia – USEC spot rates plummet ahead of ILA strike deadline
Container spot rates from North Asia to US East Coast , in USD per FEU
USD per FEU
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$ 10,000 $ 9,000
$ 8,000
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$ 7,000
$ 6,565
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$
$ 10,000 6,000
$ 5,000
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$ 4,000 |
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$ 3,000 |
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$ 2,000 |
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$ 1,000 |
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Oct L |
Jan 2023 |
Apr |
Jul |
Oct |
Jan 2024 |
Apr |
Jul
Sep , 2024
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North Asia-US East Coast |
Source : Platts , S & P Global © 2024 S & P Global
On Gateway
Rates to the US East Coast plummeted ahead of the Sept . 30 deadline dockworkers have set for a strike if a new contract is not in place . Shippers have known since last November of the threat of the first coastwide strike to hit the East and Gulf coast ports since 1977 and have advanced or diverted cargo accordingly . The rate weakness reflects that planning coming to fruition , as import volume growth to the West Coast has been consistently higher this year than to the East and Gulf coasts , though rates to the West Coast are rapidly weakening as well .
The 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 . https :// www . joc . com / gateway
US truckload spot rates slip
Recent data from DAT Freight and Analytics shows a decline in spot rates over the past three weeks . As of Sept . 14 , 2024 , the spot rate decreased to $ 1.59 per mile from $ 1.60 per mile on Sept . 7 , a 0.6 % reduction .
$ 1.80 $ 1.7 5 $ 1.7 0 $ 1.65 $ 1.60
|
$ 1.55
$ 1.50
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Up 0.6 % from Sept . 2 02 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 |
2 2 -Jun-2 4 |
2 0-Jul-2 4 |
17 -A ug-2 4 |
14 -A ug-2 4 |
Source : DAT Solutions © 2024 S & P Global
Xeneta Asia to US West Coast short and long-term rates
Xeneta aggregates freight rates for both short-term contracts valid for less than 32 days , and long-term contract that are valid for 87 days or more . Terminal Handling Charges ( THCs ) are excluded . The Sept . 12 , 2024 , average spot rate from Asia to US West Coast was $ 5,835 per FEU , down 1.6 % from the previous week . Pricing in long-term contracts signed within the last three months ticked up 0.1 % to $ 3,239 per FEU , while rates in all long-term contracts fell 0.6 % to $ 2,312 per FEU .
Short-term rates Contract rates signed in last three months
Contract rates
$ 10,000
USD per FEU
$ 8,000 $ 6,000 $ 4 , 000 $ 2 , 000
$ 0 01 / 07 / 2 02 1
09 / 12 / 2 02 4
Xeneta ’ s ocean freight spot and contract pricing benchmarks gather over 10 million rates monthly from large volume global shippers and forwarders . Before releasing any market information , a minimum of five daily rates per route , per equipment type is required .
42 Journal of Commerce | October 7 , 2024 www . joc . com