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Nov 12,2021

U.S. shipping has risen and fallen sharply, and freight rates on China-U.S. routes have been halved

Ocean freight services in the United States has gone up and down, down and up, and up and down. The freight for China-U.S. routes has been halved!

The US West Port will usher in a new wave of strikes, and the labor contract of 15,000 dockers is about to expire.

The shipping market continues to have a high fever, and recently there has been a sound of loose freight rates.

It is reported that the sea freight from China to the west coast of the United States has dropped to about 9,000 US dollars, which has been "cut in half" from the peak of nearly 20,000 US dollars. The freight rates of other routes have also decreased in varying degrees.

 

Ocean freight services


According to data from the container data company Shifl, currently, the freight rate on the China-Western US route has dropped to about US$8,000/FEU, which has dropped by half compared to the peak of nearly US$18,000/FEU in September. The freight rate of the China-US East route also dropped significantly, from September's 19,500 USD/FEU to the current 13,800 USD/FEU, a drop of about 30%.

The U.S. supply chain is about to face a greater challenge. Statistics show that by July next year, the labor contracts of nearly 15,000 dockers on the west coast of the United States will expire. At that time, if these workers choose not to renew their contracts, then The labor gap in the country's cargo transportation will further expand.

Since there are 29 ports on the west coast of the United States, including the two main ports that undertake 40% of the country's cargo transportation-the Port of Long Beach and the Port of Los Angeles, statistics show that about 100 cargo ships are unloading outside these two major ports. , And there are still more than 60,000 containers piled up in the terminal. Therefore, once freight workers stop working, it will further aggravate the pressure of shortages in the U.S. commodity supply chain.

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