Stories & Blogs

MARKET UPDATE – JULY 2023 Transpacific freight rates recovered slightly throughout July as they began to bounce back from the lows of late June. July closed out with freight rates noticeably above that of a month ago, with Asia-US West Coast rates rising 13% M/M to $1,366, but still 81% lower Y/Y. Meanwhile, Asia-US East Coast rates also rose toRead more

MARKET UPDATE – JUNE 2023 Transpacific freight rates spiked upwards in early June before sharply sliding back down as the month went on. June ended with freight rates heading back down towards where they had seemingly plateaued over the course of March and April. At the end of June 2023, Asia-US West Coast rates dipped to $1,209, representing a 15%Read more

MARKET UPDATE – MAY 2023 Transpacific freight rates spent the entirety of May gradually sliding back down towards where they had seemingly plateaued over the course of March and April. However, despite the month-long decline, they still remain slightly above the price levels observed across the previous two months. At the end of May 2023, Asia-US West Coast dipped toRead more

MARKET UPDATE – APRIL 2023 The end of April 2023 saw transpacific freight rates take a dramatic shift against what has been the norm for almost 10 months now, sharply increasing following a month-long period of rather stable but still partially declining rates. Asia-US West Coast spiked upwards to $1,725, representing a 71% week-on-week increase, whilst Asia-US East Coast ratesRead more

MARKET UPDATE – MARCH 2023 The end of March 2023 saw transpacific freight rates falling yet again, with Asia-US East Coast rates decreasing to $2,123 per FEU, a 3% decrease week-on-week, whilst Asia-US West Coast rates have experienced a bit of a slow-down this month, dropping by just 1% week-on-week to $1,016. After a brief period of stability in JanuaryRead more

MARKET UPDATE – FEBRUARY 2023 After a rather pessimistic entry into 2023, early signs from the new year have suggested that the global economic outlook may be a bit less dampened than previously anticipated. The IMF has stated that although the global economy is still poised to slow this year before a rebound in 2024, early attempts to fight againstRead more

Managing the constantly changing ocean freight market can be a complicated process. Spot rates can fluctuate significantly based on shipping lines’ capacity, seasonality, consumer demand, regional market conditions. Century’s new Ocean Freight Cost Management Solution provides visibility to all your contracted carrier rates, NVO rates, and spot rates, systematically recommending the lowest cost option to ensure you always book theRead more

MARKET UPDATE – JANUARY 2023 As the world unpacks a fresh calendar to begin the new year, businesses, and hence supply chain professionals, find themselves still burdened with the same pressures from the second half of the previous year. With the ongoing conflict between Russia and Ukraine, China’s exit from the ‘Zero-Covid’ policy, and fears of a global recession everRead more

MARKET UPDATE – December 2022 The easing of supply chain pressures, attributable to many factors such as global inflation, the ongoing conflict in Ukraine, and the majority of the world, including China, entering a post-Covid new normal, has led to container freight rates returning almost to pre-pandemic levels. This suggests that ocean carrier profits in 2023 may be a lotRead more

MARKET UPDATE – November 2022 The downward trajectory of ocean freight rates, beginning in the third quarter of 2022, seemed like they would perpetually decline until finally settling back down to pre-pandemic levels. However, recent data suggest a minor stabilization of ocean freight rates, from weeks 43 to 48, prior to reaching pre-pandemic levels despite the continuing trend of economicRead more