Reduced container shipping capacity on intra-Asia tradelanes has led to fewer sailings and higher rates for freight sourcing. Shipping lines have deployed as much capacity as possible on the more-lucrative transpacific and Asia-Europe trades, leaving intra-Asia capacity down 11% and with 331,000 fewer slots than in 2020.This has had an impact on freight rates. According to Xeneta, a freight rate benchmarking platform, in the first half of January, spot rates from the main Chinese ports to the main Japanese and South Korean hubs rose to an average of $1,800 per 40ft, compared with $1,400 in 2021 and $640 in 2020.
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See AllOcean freight rates increased via the West Coast of North America (+3.8% week-on-week) and via the East Coast of North America (+1.1%). Freight rates decreased in South Korea (-2.0%) and Europe (-1.1%
Ocean freight rates increased via the West Coast of North America (+0.6% week-on-week) and via the East Coast of North America (+1.5%). Freight rates decreased in South Korea (-4.6%) and Europe (-2%).
The ranking of international air freight forwarders from Japan for February 2023 has been revealed, with Nippon Express in first place with 15,607 tons (-31.4% y/y), Kintetsu Express in second place w
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