The average maritime freight rate charged in 2024 on the China-Mexico-west coast of Latin America trade route confirms that it was an “extremely volatile” period, according to the EAX index, prepared by Eternity Group Mexico .
This rate stood at an annual average of four thousand 027 dollars for each 40-foot container (FEU) transported, in a period in which the supply of spaces increased (+1.1 million TEU), the demand was significantly important and the rates were high compared to 2023.
“At the end of the year, we can observe a sustained increase in capacity, which, in line with historical trends, is related to the expectations of shipping lines regarding purchase orders prior to the Chinese New Year (CNY),” according to the monthly report of the index.
In December alone, the rate had an average behavior of three thousand 042 dollars per FEU , which meant a drop of only 6.05% compared to the average of a month before.
During the period from January to November of last year (latest data available from the national port authority), the ports of the Mexican Pacific had received a total of two million 529 thousand 636 20-foot containers (TEU) in import services, 12.7% more than the same cycle a year earlier.
“However, and despite the GRI (general rate increases), the low utilization of vessels at the beginning of 2025 is generating a sharp drop in rates, even reaching rates below the technical support level of two thousand dollars per FEU. It is possible that carriers will seek to limit capacity after the CNY in order to stop the drop in rates and regain stability in the price level,” according to the report by Eternity Group Mexico.
Likewise, the freight forwarder firm of Chinese origin recommended coordinating shipments considering 07-14 days in advance , understanding a market that is still volatile and with high levels of uncertainty prior to the inauguration of Donald Trump (January 20) as president of the United States, and on the eve of the Chinese New Year.
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