PUBLISHER: The Load Star (www.theloadstar.com)
Ocean carriers are offering significant discounts on Asia exports to the US and Europe as the traditional slack season kicks in.
The discounting and waiving of premium fees for late November and December shipments caused a mini-collapse in container spot rates this week.
According to the Freightos Baltic Exchange (FBX), spot rates from Asia to the US west coast slumped by 26% in the past week, to $13,924 per 40ft, and by 20% for east coast ports. to $15,865 per 40ft.
“For the first time since June, there are reports that many transpacific bookings can be made without paying the hefty premiums that were a major factor in the July spike, suggesting drops in premiums are contributors to the decrease,” said the FBX commentary.