By Richie Lin   Photo：Aaron Taylor，Link：Unsplash

Ocean freight market rate in week 14

This week market rate of USWC and USEC keeps roughly same level but some carriers increase GRI. As for the IPI points of USA, carriers all increase their rate to match the demands because of a week blocked in Suez Canal by Ever Given. The supply of space has once again downward but high demand in EU, USA is kept on going up.

• Asia main ports to WCUSA USD 4000~4300 per 40GP;
• Asia main ports to ECUSA USD 4700~5300 per 40GP; for IPI points of USA is USD 6400~7200 per 40GP;
• Asia main ports to Europe main ports and W. Med USD 8500~9000 per 40GP;
• Asia main ports to WCSA USD 7600~8200 per 40GP; to ECSA USD 6600~7200 per 40GP.

Carriers are expecting to increase the rate in May and June because port congestion happening in USA and the block happened at Suez Canal last week have caused shortage of space and delayed schedule even worse.

The congestion happening in Los Angeles and Long Beach is still causing problems. Average waiting time for berthing is around 2~3 weeks compared with 3~5 days before the Covid-19. The prolonged port congestion, shortage of containers, delay ed vessels and higher and higher freight rate have made companies all over the world to readjust their strategy of global purchasing and production. Just in Time (JIT) theory has dominated their minds when they evaluate the supply chain process for a long time. However, the disruption caused by the pandemic pushed the logistic managers to think about the necessity of setting warehouse for stocking enough inventory or moving factories to the positions near the markets.

Airfreight market rate in Week 14

The airfreight is updated each week to match the market situation. PVG/SZX/HKG/TPE to LAX USD 10.50/kg, to ORD USD 11.0/kg, to JFK USD 15.0/kg.

We are expecting the airlines will increase airfreight rate next week because flight capacity is still not enough influenced by pandemic and the block in Suez Canal.

Read more：Ocean freight market rate in week 13