# January 24, 2024 Update | Freightos

> Freightos reports Asia-US and Asia-Europe container rates jumped 15% to 25% in the week, with Asia-US West Coast at $2,966 per FEU. Carriers are adding vessels to handle longer Red Sea diversions, and empty container shortages are emerging in some Asian export hubs ahead of Lunar New Year.

- Date: 2024-01-24 · published 2024-01-24T12:00:00.000Z
- Category: logistics · region Global · magnitude low
- Page: https://feedsoft.ai/events/32021-january-24-2024-update-freightos
- Commodities: [Ocean Grain Freight](https://feedsoft.ai/c/OCEANFRT.md)

## Why it matters

Rising container and ocean freight rates raise the delivered cost of feed ingredients and exports moving through Asian ports, though analysts suggest freight increases may be near a peak.

## Read by commodity

- OCEANFRT: bullish ▲

## Sources

- freightos.com: https://www.freightos.com/freight-industry-updates/weekly-freight-updates/january-24-2024-update/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.