- Port of Los Angeles Sees Record Summer Volumes, Slowdown Ahead
- FBX01 Rates Slip While Remaining Range-Bound in September
- FBX03 Defies Trend With Strong Gains to U.S. East Coast
COSCO has announced that it will continue to operate its services to the United States, despite the impending new USTR port charges. The company has committed to not passing these additional costs on to its customers. However, with fees expected to increase each year, there’s some uncertainty about what this might mean in the long run, reports Baltic Exchange.
Port of Los Angeles Throughput Peaks Then Faces Slowdown
The Port of Los Angeles celebrated record throughput in July and August this year. However, officials are bracing for a drop in volumes in the upcoming months as the USTR charges come into play.
Freight Rate Trends Across Major Routes
- FBX01 (China/East Asia – USA West Coast): Dropped by $497 week-over-week and is down $331 since the beginning of September, indicating a relatively stable trend this month.
- FBX03 (China/East Asia – USA East Coast): Rose by $336 since last Friday and has increased by $721 since early September, defying the overall decline seen in Far East routes.
- FBX11 (China/East Asia – North Europe): Decreased by $29 week-over-week and $455 since the start of September. However, Hapag-Lloyd’s mid-October GRI announcement is anticipated to boost rates.
- FBX13 (China/East Asia – Mediterranean): Ended the week just $1 higher than last Friday, but is still down $672 from the beginning of the month.
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Source: Baltic Exchange
