Baltic Exchange summaries the FBX Index for August 2024.
FBX July Summary
The FBX index began July at $4,508, rising sharply to $5,214 within the first week. It peaked at $5,218 on 9 July before a steady decline to the current level of $4,958. This is over 3.5 times higher than the average price a year ago, primarily due to ongoing disruptions in the Red Sea since the beginning of the year.
FBX01 – China/East Asia to US West Coast
FBX01 mirrored the overall index trend, starting July at $7,058 before a sharp increase led to a monthly high of $8,213 within two days, a 16% jump. By the end of July, the rate had declined to $7,163. However, this is still more than 450% higher than the end of July 2023. The forward curve for FBX01 showed slight increases by the end of the month: Q4 2024 at $6,900, Q2 2025 at $6,450, and Calendar 2025 at $6,350.
FBX02 – US West Coast to China/East Asia
FBX02 started July with an FEU spot price of $315, remaining stable until a $45 increase on 11 July. The rate closed the month at $336, a year-on-year decrease of $176. The forward curve for FBX02 showed declines: Q4 2024 at $430, Q2 2025 at $355, and Calendar 2025 at $363, representing discounts of $60, $63, and $37, respectively.
FBX03 – China/East Asia to US East Coast
FBX03 experienced a surge from $8,252 to $9,762 in the first half of July, maintaining this level throughout the month, with a current spot price of $9,740. This is the highest level since August 2022. Forward prices increased: Q4 2024 ended at $7,900 (up $100), Q2 2025 at $7,550 (up $450), and Calendar 2025 at $7,200 (up $350).
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Source: Baltic Exchange
