Shanghai Port export freight rates: East Coast and European routes decline, Mediterranean routes rise.

2024 11/20

The freight rates from Shanghai Port to the East Coast of the U.S. and Europe have slightly decreased, while rates on the Mediterranean route continue to rise. The demand in China's export container shipping market remains weak, leading to a decline in rates on most routes. Starting Monday, several shipping companies will lower rates on the West Coast, East Coast, and European routes. The West Coast rates have dropped significantly recently, but due to a three-day strike on the East Coast, some cargo shifted to the West Coast, temporarily supporting rates there. However, as of November, with the resumption of normal sailing schedules and a decrease in cargo volume, West Coast rates have had to adjust. Other shipping companies are expected to follow suit with price adjustments starting next week.