Freightos: Asia-US East Coast hits $9,576/FEU while Mediterranean slides 15% to $4,976

Summary

Freightos Baltic Index data show Asia-US West Coast up 1% to $6,826/FEU and Asia-US East Coast up 2% to $9,576/FEU, while Asia-North Europe fell 6% to $4,699/FEU and Asia-Mediterranean dropped 15% to $4,976/FEU. Freightos attributes transpacific strength to sustained demand, carrier capacity cuts and Far East port congestion, with Panama Canal surcharges due in September. China-North America air rates fell 8% to $6.46/kg.