international-shipping-and-logistics-market-week-502024-rate-updates-and-trends.webp

1. Market Overview

This article continues Real Logistics' previous analysis of container freight rates in Week 49/2024. The international container shipping and logistics market in Week 50/2024 experienced slight fluctuations across major trade lanes. Drewry’s World Container Index remained stable at $3,529 per FEU, but there were rate adjustments on certain routes like Asia - North America and Asia - Europe, driven by varying supply and demand factors, as well as seasonal impacts and upcoming general rate increases (GRI).

international-shipping-and-logistics-market-week-502024-rate-updates-and-trends-1.webp — Drewry’s World Container Index Week 50/2024

1.1 Asia - North America Route

Freight rates from Asia to the U.S. West Coast dropped by 1.98%, now at $4,000 per FEU. This decline is attributed to increased vessel capacity in late November and reduced demand in early December. However, rates may rise again due to the planned GRI in mid-December, dependent on pre-Chinese New Year demand.

Rates from Asia to the U.S. East and Gulf Coasts remained steady, with potential reductions in Peak Season Surcharge (PSS) for West Coast routes but no changes expected for the East and Gulf Coasts.

asia-north-america-freight-rate-update-week-50-2024-50.webp — Asia-North America Freight rate | Week 50/2024

1.2 Asia - Europe Route

Freight rates from Asia to Northern Europe in Week 50/2024 remained stable at $5,042 per FEU, a 23.88% increase from the previous month due to early December GRI. Demand is showing slight growth, with stability expected towards the end of December due to European holiday seasons.

asia-north-europe-freight-rate-update-week-50-2024-50.webp — Asia-Northern Europe Freight rate | Week 50/2024

1.3 North America - Asia Route

Rates from the U.S. West Coast to Asia held steady at $677 per FEU, a 3.42% drop from the previous month. Despite the decrease, rates remained balanced due to steady supply and demand.

north-america-asia-freight-rate-update-week-50-2024-50.webp — US West Coast - Asia Freight rate | Week 50/2024

1.4 Northern Europe - Asia Route

Freight rates from Northern Europe to Asia increased by 2.69% to $344 per FEU compared to last week, but still fell by 2.82% month-on-month. This suggests a slight improvement in demand but lingering pressure from market conditions.

north-europe-asia-freight-rate-update-week-50-2024-50.webp — Northern Europe - Asia Freight rate | Week 50/2024

2. Real Logistics’ Insights

Real Logistics notes that Week 50/2024 saw minor rate adjustments across international shipping routes. The Asia - North America and Asia - Europe lanes, in particular, are affected by seasonal trends and GRI plans. With stable demand and controlled equipment availability at key Asian ports, businesses can optimize their shipping plans. Real Logistics remains committed to providing efficient and flexible transport solutions, ensuring cost-effective options for clients during this period.