Chart of the Week: Freightos Baltic Daily Index, China to North America West Coast, China to North America East Coast SONAR: FBXD.CNAW, FBXD.CNAE The ocean container shipping market has not been a major factor in the recent domestic freight market turbulence, but the ongoing conflict in Iran is creating a slow burn in spot rates as we inch closer to peak import season and could become a factor later in the year. . Spot rates for 40-foot equivalent containers moving from China to North America’s East Coast have nearly doubled since late February, rising from $2,600 to over $5,000. The trans-Pacific route has increased nearly $1,400 over the same period to $3,200 as of this past week. Both lanes experienced more than a 75% increase over an eight-week period, according to the Freightos Baltic Daily Index (FBXD). Maritime shipping disruptions have been a major factor in supply chain management strategies since the pandemic. During the height of the COVID era, importers flooded ports and railheads, congesting and ultimately breaking the infrastructure. This led to a shift in transcontinental freight share from rail to truck. As recently as 2024, railroads were able to reclaim a large portion of transcontinental volumes as shippers extended their order lead times over concerns that Red Sea attacks were deteriorating service globally. With overseas transit times a growing concern, shippers pushed order lead times to their highest levels since the end of COVID during the summer of 2024. Ocean transit times averaged approximately five days longer — published…
