News / Transpacific box line freight rates nosedive as demand falls

© Clare Jackson

The Asia – US spot rate components of the Freightos Baltic Index (FBX) slumped this week by 19% and 7% respectively for container shipments to the US west and east coasts.

According to the FBX reading, US west coast spot rates fell to $12,596 per 40 ft – their lowest level since July last year. For US east coast shipments FBX’s spot rate declined to $15,973 per 40 ft.

“As demand falls and space becomes available, ocean rates continued to fall this ...