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Asia-to-US West Coast container rates have fallen sharply from record levels, down about 70% year on year, as West Coast congestion eases. Europe-to-US East Coast rates are up about 44% year on year and remain near all-time highs due to East Coast port backlogs and limited Atlantic capacity.
Ocean freight costs shape landed feed ingredient prices for importers; lower Pacific rates ease costs for Asian-sourced goods while elevated Atlantic rates keep European-routed shipments expensive.
freightwaves.comGreg MillerAug 21, 2022Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
