The relief that some of the shippers had from the drop in China-US spot rate market in the first week of October 2021 seems to be continuing into November 2021.
As per Shabsie Levy, CEO & Founder of digital freight forwarding company Shifl, “With the holiday shopping rush seemingly over and the already ordered goods sitting inside thousands of containers on many ships across the USA, the drop-in freight rates on the spot market continues into November 2021.”
Shifl had earlier brought it to the market’s attention that container spot freight rates fell sharply in October 2021 with rates for shipping a 40′ container from China to Los Angeles dropping from a high of $17,500 to $8,500, a drop of 51.4% compared to September 2021.
As per Shifl’s data, container spot rates for November 2021 on the China-US East Coast route is around $13,800 per container in November down 29% from $19,500 in September 2021.
“Based on the current market conditions, I visualize a slight uptick in rates just before Chinese New Year” said Shabsie Levy.
“After Chinese new year as we head into the traditionally quieter months, I’m confident we will see the rates on a stable downward trajectory” added Levy.
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Rebecca Morpeth Spayne,
Editor, International Trade Magazine
Tel: +44 (0) 1622 823 922