Freight rates lose gains after three weeks
Long-haul freight rates have given way to the lack of capacity discipline, as the Shanghai Containerized Freight Index (SCFI) lost ground after three weeks of gains.
On 18 August, Asia-North Europe rates fell to US$852/TEU, down from US$926/TEU the previous week, while Asia-US West Coast rates dipped to US$2,003/FEU, from US$1,507/FEU on 11 August.
Linerlytica said that market sentiment has turned negative again, as recent rate increases have failed to hold, adding, “The setback will make it harder for carriers to push for the next round of rate hikes in September, with no signs of capacity management in place.”
Linerlytica noted that the idle fleet remains low even as newbuilding deliveries are ongoing.
Hurricane Hilary has not materially affected operations at Los Angeles and Long Beach ports, which reopened on 21 August after partially closing on 20 August.
Rates to the US East Coast were more resilient, with capacity reduced due to Panama Canal draught restrictions. Rates went up marginally, to US$3,110/FEU, from US$3,071/FEU on 11 August.
Maersk Line has added nine extra US East Coast sailings since July, but will withdraw these extra loaders and divert these to the US West Coast in September.
Source: Container News
Related News
05/05
2026
The revised surcharge will take effect from June 1, 2026 (based on gate-in date) and will remain applicable until further notice.
25/03
2026
The global aviation industry is facing a new wave of disruption as ongoing tensions in the Middle East continue to put pressure on jet fuel costs, flight operations, and the overall stability of international air networks. The impact is no longer limited to routes passing directly through conflict-affected areas. Instead, it is now spreading across multiple markets, driving higher airfares while also increasing the risk of flight delays and cancellations on a broader scale.
12/03
2026
Amid the sharp rise in global fuel prices since early March 2026, driven by ongoing geopolitical tensions in the Near and Middle East, bunker costs across the ocean shipping industry have increased significantly on most trade lanes.