Supply-Chain Chaos: Container Rates Skyrocket Even Higher... And There’s No End In Sight | WHAT REALLY HAPPENED

Supply-Chain Chaos: Container Rates Skyrocket Even Higher... And There’s No End In Sight

Asia-East Coast rates jump
The Freightos Baltic Daily Index for Asia-East Coast surged by around 20% in just the past few days. As of Thursday, the Freightos rate reached $9,317 per FEU, its highest point ever and up 224% year on year (y/y).

The Drewry weekly assessment for the Shanghai-New York route was $8,251 per FEU, up 9% week on week (w/w) and 203% y/y.

Asia-West Coast rates also jump
There have recently been big moves up for rates to West Coast ports, as well.

Freightos put Thursday’s Asia-West Coast spot rate at a record-high $6,341 per FEU, up 194% y/y. Drewry’s weekly Shanghai-Los Angeles index is at $6,313 per FEU, up 6% w/w and 199% y/y.

S&P Global Platts’ North Asia-West Coast North America FAK rate was $4,200 per FEU on Thursday, almost triple the FAK rate a year ago.

Panama spread keeps widening
Asia-East Coast rates have been rising faster than Asia-West Coast rates, according to Freightos’ data.

As a result, Freightos’ East Coast-West Coast spread — the premium importers pay to take the long route via the Panama Canal — hit $2,976 per FEU on Thursday, a record high. It has spiked in recent days.

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