All four major shipping routes have declined, with the Europe route experiencing the largest drop!

2024 10/15

The strike at U.S. East Coast ports has ended without causing an increase in shipping rates. Data from the Shanghai Shipping Exchange on October 11 shows that rates on the Asia-Europe routes have dropped, with a larger decline on Mediterranean routes. On North American routes, shipping rates continue to fall due to the slow recovery in demand after the National Day holiday.

The Drewry World Container Index indicates that spot rates from Shanghai to New York and Los Angeles have decreased. Although the strike did not affect shipping rates, it has caused severe congestion. Shipping companies have increased the number of blank sailings to prevent further congestion. It is expected that shipping rates will continue to decline during the seasonal downturn.

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