Freightos Baltic Exchange(FBX) on July 7 released the latest data show that in the first week of the Q3 quarter of 2023, Asia to North America and Europe basic port freight rates have recorded different ranges of increase, of which the US-West freight rates rose sharply by 11%.

In addition to the US-West route freight, FBX's latest data show that Asian exports to the US-East and Northern Europe routes are also rising, of which Asian exports to the US-East route freight last week rose 8% to 2376 US dollars/FEU; Asian exports to Northern Europe freight rose slightly by 0.3 to 1300 US dollars/FEU.

In addition, from the Drewley data also show that Europe and the United States route freight is rising.

Druri's latest data show that Q3 quarter first week:

Shanghai exports to the United States West Los Angeles port freight rose 4%

Shanghai exports to the U.S. East New York Port freight rose 3%

Shanghai exports to the European port of Rotterdam freight rose 2%

Shipping companies collectively bullish on the European line.

Last week, a number of shipping companies announced an increase in Asia to the Nordic route FAK rates.

Last Monday (3rd), Maersk issued an official notice announcing that it will increase the FAK rate on the Far East-Europe route from July 31 (Freight All Kinds).

Maersk said: since July 31, Asia's major ports (Asia Mainports) exports to the Netherlands Rotterdam port (Rotterdam), Poland Gdansk port (Gdansk) and the British port of Felixstow (Felixstowe) FAK rates increased to 20 feet per 1025 dollars and 40 feet per 1900 dollars;

Exports to the Danish port of Aarhus (Aarhus) and the Swedish port of Gothenburg (Gothenburg) FAK rates increased to 20 feet per 1050 dollars and 40 feet per 1950 dollars;

Exports to the Norwegian port of Oslo (Oslo) increased FAK rates to $1175 per 20 feet and $2200 per 40 feet.

Just one day after Maersk announced the price increase, that is, on July 4, CMA CGM issued an official notice announcing that it would significantly increase the FAK sea freight on the Asia-Nordic route from August 1:

Since August 1, all Asian ports (including Japan, Southeast Asia and Bangladesh) export to Nordic ports (including the United Kingdom and from Portugal to Finland/Estonia's full route) FAK rate, every 20 feet of dry container adjusted to 1075 US dollars, every 40 feet of dry container/refrigerator adjusted to 1950 US dollars.

In addition, according to Taiwan media reports, Evergreen Shipping, whose consolidated revenue fell 61.2 per cent year-on-year in the first half of the year, is also looking forward to entering the third quarter, with successful price increases on routes from the Far East to Europe, boosting operations. It is expected that Evergreen Shipping will become another price increase after Maersk and Dafei.

Evergreen said that it is expected that the opening season and subsequent holiday demand will increase the volume of goods, so the shipping market is cautiously optimistic, if the Russian-Ukrainian war can come to an end, the second half of the boom more catalytic effect.

Source: one shipping