Disclaimer: The information provided on the Timber Exchange Market Data Hub is sourced from a variety of publicly available data sources and confidential sources that have not been independently verified. Timber Exchange is not responsible for any expenses, damages, losses, or costs incurred as a result of using or relying on the information provided on this site. By using the Timber Exchange Market Data Hub, you agree to use the information at your own risk and acknowledge that any decisions made based on the information provided are done so solely at your own risk.

Container rates to USA & Europe fall 40% as carriers seek to fill capacity

Posted on September 20, 2024 |

Shipping rates for containers to the USA and Europe have dropped by up to 40%, as companies reduce prices to fill available space.

For several months, rates for major routes to the USA have been decreasing by around $1,000 per 40-foot container weekly.

Even though ships are mostly full (90% - 95%), low demand pushes companies to lower their prices on these routes.

Freight rates between Asia and Australia have risen sharply, increasing by more than $1,000 per TEU in just a month, with more ships added to meet high demand.

The Shanghai-Melbourne shipping rate reached USD 2,268/TEU in September, compared to USD 1,776/TEU in August.

The Shanghai export container index for Europe dropped 10.6% last week, down almost 30% from its July peak, while the U.S. West Coast index dropped 6.9%, down 40%.

China’s exports dropped by 2.3% in July but recovered with a 2.7% increase in August.

Previous Next