Container Shipping Rates Soar in 2024

Breaking it down by route, the average freight rates for major international routes in the first quarter of 2024 and at the end of the first quarter have significantly increased year-on-year. As of the end of the first quarter, the average market price for a 40-foot container on the Europe route was $3,264 per FEU, up by 147.3% year-on-year. The average market prices for 40-foot containers on the US East Coast and West Coast routes were $3,900 per FEU and $3,104 per FEU, respectively, up by 101% and 181.9% year-on-year. The average market prices for 40-foot containers on the South America East Coast and West Coast routes were $3,678 per FEU and $2,756 per FEU, respectively, up by 85.8% and 26.4% year-on-year. The table below shows the detailed price fluctuations for each route in the first quarter. Ocean freight rates have fluctuated greatly recently. If you need rubber fenders or dredging rubber hoses, please contact us as soon as possible. We will work closely with the logistics department to provide you with the most suitable transportation solution.

Routes	Q1 2024
	Freight(USD/FEU)	Year-on-year rise and fall
Asia——Europe	4321	197.4%
Asia——East Coast of the Mediterranean	5186	80.8%
Asia——West Coast of the Mediterranean	4996	89.9%
Asia——East Coast of America	5420	131.2%
Asia——West Coast of America	3965	227.4%
Asia——East Coast South America	3051	87.9%
Asia——West Coast South America	2331	41.5%
Asia——Middle East	2551	119.0%

Ocean freight rates have fluctuated greatly recently. If you need rubber fenders or dredging rubber hoses, please contact us as soon as possible. We will work closely with the logistics department to provide you with the most suitable transportation solution.