News / Spot rate surge to continue past Golden Week, with surcharges causing more pain

Yantian-port_from_above Credit Gigel.atat

Yantian Port. Credit Gigel.atat.

05/07/2024

Since the 1 July implementation of a series of peak season surcharges (PSS) and new FAK (freight all kinds) levels, the largest east-west container trades have seen a week of double-digit spot freight rate increases.

After several weeks in which most of the focus was on soaring spot rates on the Asia-Europe trades, this week it was the turn of the Asia-North America trades to post the largest increases.

Drewry’s World Container Index reading for its Shanghai-Los Angeles leg grew 12%, to ...

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Navin Yadav
July 09, 2024 at 11:00 am
The surge in spot rates, driven by new peak season surcharges and FAK levels, is causing significant pain for shippers, particularly on the Asia-North America trade routes. With double-digit increases reported on major routes like Shanghai-Los Angeles and Shanghai-New York, many forwarders are struggling to secure space, forcing importers to pay hefty premiums. This trend is expected to persist at least until Golden Week, with some predicting elevated rates could continue into the second quarter of next year.

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Piyovi Shipping Software Solutions
https://piyovi.com

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