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.
Trans-Pacific freight rates remain steady above $5,000 per FEU since October

Trans-Pacific freight rates remain steady above $5,000 per FEU since October

Posted on December 3, 2024   |  

Asia-U.S. freight rates have stayed above $5,000 per FEU since October, with daily rates to the U.S. East Coast exceeding $6,000 in late November.

Importers are speeding up shipments ahead of a potential ILA strike at East Coast and Gulf ports after January 15, along with expected tariff hikes from the U.S. government.

The Freightos Baltic Weekly Index for the week ending November 22 showed Asia-U.S. West Coast rates dropped by 4% to $5,122 per FEU, while East Coast rates stayed at $5,387 per FEU.

U.S. tariff threats on China, Mexico, and Canada have led importers to bring in shipments earlier than planned.

On November 13, the ILA ended talks with the United States Maritime Alliance, accusing employers of trying to include dockside automation in a new contract that could reduce union jobs.

Political tensions and labor disputes are pushing up shipping costs and causing uncertainty on major Asia-U.S. routes.



Previous Next