Photo: Charles Csavossy / U.S. Customs and Border Protection / Public domain (cropped)
American importers are getting little relief on their shipping bills as the busy season winds down. Container lines are seeking another $2,000 to $3,000 to move a 40-foot box from Asia to the United States this month, even though some freight forwarders doubt customers will have to pay it.
The proposed increases are not the same as higher prices actually taking hold. In its November 3 weekly update, freight-pricing platform Freightos said daily trans-Pacific rates had not climbed so far that week. FreightWaves reported the rate push Wednesday.
A 40-foot box still costs thousands more
Freightos put Asia-to-U.S. East Coast ocean rates at about $9,900 per 40-foot container, down 6% from the previous week but still roughly $200 above their level two weeks earlier. West Coast rates were holding near $8,300, a range they reached in September.
Those are market benchmarks, not an all-in quote for every shipment. An importer’s route, booking date and contract affect what it pays.
Trans-Pacific prices remain about $5,500 per container above their pre-peak-season level, according to Freightos. For businesses bringing in merchandise, a slower season has not yet brought shipping costs back to where they started.
The squeeze leaves importers weighing thinner margins against higher selling prices. It does not mean every retailer will raise prices: freight is one part of the cost of getting goods onto a shelf, and businesses can absorb costs or change how and when they ship.
The proposed hikes face a test
Freightos said some forwarders think further increases are unlikely as the trade enters its slow season. FreightWaves cited improving space availability and more consistent vessel schedules as reasons for that skepticism.
There may be only a short window for rates to fall before demand builds again ahead of Lunar New Year, Freightos said. Its assessment was that trans-Pacific rates might not return close to their pre-peak baseline before the next seasonal increase.
Europe is moving differently
Asia-to-Northern Europe container prices have risen about 10% over the past month, while Mediterranean prices have gained 23%, according to Freightos. That follows a much larger summer decline on those routes.
In the latest weekly figures, Mediterranean rates rose 3% to $4,375 per 40-foot container. Northern Europe rates were roughly level at $3,595. Carriers planned increases of $1,000 to $1,500 for those routes at the start of November, with more planned for mid-month, but their success remained uncertain.
Freightos pointed to congestion at Northern European hubs and lingering Far East backlogs as possible support for rates, even as more ships return to the shorter Red Sea route. For importers, the number to watch is the rate they can actually book, rather than the increase a carrier announces.
JBizNews Desk | Global
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