This week, shipping companies began to implement work reduction measures, especially the significant reduction in the US West route, coupled with the threat of a strike that may occur in the US East on October 1.

Some of the goods originally planned to be shipped to the East Coast of the United States have been diverted to the West Coast of the United States, causing the freight rates of the West Coast and the East Coast to quickly approach each other. Maersk’s official website shows that the freight rate for shipping to Savannah in the East Coast of the United States has dropped to US$4,900 per large box, which is lower than the freight rate of the West Coast line.

On September 16, Maersk announced that it will increase the PSS of all routes from mainland China and Hong Kong to Kenya and Dar es Salaam, Tanzania from October 1; and from October 13, it will increase the PSS of all routes from Taiwan to Kenya and Dar es Salaam, Tanzania. The specific charging standards are: US$800/TEU, US$1,500/TEU

At the same time, from October 1, Maersk raised the PSS for all routes from mainland China and Hong Kong, China to IMEA (Indian Subcontinent, Middle East and Africa) region. The specific charging standards are: US$1,000/TEU, US$2,000/FEU.

In addition, CMA CGM also recently announced an increase in the overweight surcharge (OWS) for all 20-foot dry containers from Asia to Northern Europe, effective September 15 (loading date).

USD market freight rates fluctuate drastically and are forecast to remain volatile.