Transpacific may give peak season a pass
Inbound figures provided by online market intelligence companies may be reliable, but they only tell part of the story
in the NewsCSX CEO Harrison won’t back down when it comes to addressing service issues and operational plans Randstad Report: 76% of U.S. workers do not fear automation STB issues follow-up letter to CSX over service-related concerns Outsourced Transportation Management AAR reports annual U.S. rail carload and intermodal gains for the week ending August 12 More News
Inbound figures provided by online market intelligence companies may be reliable, but they only tell part of the story.
According to London-based Drewry Shipping Consultants, spot rates on the Transpacific slid 5.6 percent last week to $1,561 per 40-foot container equivalent unit, (FEU) or 37.4 percent below their levels of a year ago.
This weekly index shows that while inbound volumes are better than expected, rate decline signals a soft peak season for pre-holiday imports from Asia.
The Drewry index is based on spot rates reported by non-vessel-operating common carriers in Hong Kong for shipments to Los Angeles. It excludes terminal handling charges in Hong Kong but includes fuel surcharges.
The index hit its 2011 high in January at $2,119 per FEU. Last week’s index was down from last week’s $1,653.
The index bumped up to 21.5 percent to $1,853 per FEU after hitting bottom at $1,525 in early August.
There it remained, at $1,857 for two consecutive weeks before drifting lower during the last three weeks.
About the AuthorPatrick Burnson, Executive Editor Patrick Burnson is executive editor for Logistics Management and Supply Chain Management Review magazines and web sites. Patrick is a widely-published writer and editor who has spent most of his career covering international trade, global logistics, and supply chain management. He lives and works in San Francisco, providing readers with a Pacific Rim perspective on industry trends and forecasts. You can reach him directly at [email protected]
Subscribe to Logistics Management Magazine!Subscribe today. It's FREE!
Get timely insider information that you can use to better manage your entire logistics operation.
Start your FREE subscription today!
BMW Takes the Inland Road to Efficiency Global Logistics: No Shortcuts to Security View More From this Issue