On Gateway
By the Numbers
An extensive , multi-channel , interactive freight shipping dashboard can be found at https :// www . joc . com / gateway / about
Trans-Pacific spot rates sliding from early July highs
Container spot rates from North Asia to US West and East coasts , in USD per FEU
USD per FEU
$ 11,939 $ 10,000
$ 8,000
$ $ 10,000 6,000
$ 4,000
L
On Gateway
The next few weeks are going to be telling on the eastbound trans-Pacific trade . The direction of container spot rates will give a sense of what the remainder of peak shipping season this fall holds . With spot rates slipping since July , ocean carriers are seeking rate increases while others are undercutting by offering voyage-specific rates .
$ 2,000
$ 0 L Jan 2023
Jul
Jan 2024 Apr , 2024 Jul North Asia to US East Coast North Asia to US West Coast
Source : Platts , S & P Global © 2024 S & P Global
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 weakens
As of Aug . 17 , 2024 , the DAT Freight and Analytics average US truckload spot rate was $ 1.60 per mile , down 0.6 % from $ 1.61 the previous week and 4.3 % since early August . However , the DAT spot rate was still 1.9 % higher than in the same period last year , when rates averaged $ 1.57 per mile .
$ 1 . 80 $ 1 . 75 $ 1 . 70 $ 1 . 65 $ 1 . 60
|
$ 1 . 55
$ 1 . 50
|
U p 1 . 9 % f r om A u g . 2023 |
16- S e p - 23 |
14- O c t - 23 |
11- N ov - 23 |
09- D e c - 23 |
06- J a n - 23 |
03- F e b - 24 |
02- M a r - 24 |
30- M a r - 24 |
27- A p r - 24 |
25- M a y - 24 |
22- J u n - 24 |
20- J u l - 24 |
17- A u g- 24 |
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 , excluding Terminal Handling Charges ( THCs ).
The Aug . 22 , 2024 , average spot rate from Asia to the US West Coast was $ 6,229 per FEU , up 2.5 % from the previous week . Pricing in long-term contracts signed within the last three months jumped 10 % from the previous week to $ 3,008 per FEU , while overall long-term contract rates ticked up 1.1 % to $ 2,188 per FEU .
$ 10,000
S hor t - t e r m r a t e s C on t r a ct r a t e s si gn e d in l a st t hr e e m on t hs
C on t r a ct r a t e s
USD per FEU
$ 8,000 $ 6,000 $ 4,000 $ 2,000
$ 0 01 / 07 / 2021
08 / 22 / 2024
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 .
58 Journal of Commerce | September 9 , 2024 www . joc . com