Freight Rate Update
Spot rates have continued their downward trajectory this wee聽聽聽聽 k, driven by the early cessation of Asian manufacturing and a lack of volume support.
鈥� Asia to U.S. West Coast: Rates have softened further, dropping to approximately $x,xxx per FEU. The market is seeing weak vessel utilization as the pre-holiday rush ends abruptly.
鈥� Asia to U.S. East Coast: Prices dipped to around $x,xxx per FEU. While the threat of an East Coast strike has passed, demand has not rallied, leading to rate erosion.
鈥� Asia to North Europe: Spot rates on this route declined to roughly USD x,xxx per FEU. The combination of adequate inventory in Europe and the early factory closures in China has left carriers with excess slots.
鈥� Asia to Mediterranean: Rates on this route hold slightly firmer but...
