The maritime freight that shipping lines have charged on the Asia-Mexico-west coast of South America maritime route during June has reached its highest value recorded this year.
The EAX index, from Eternity Group México , reported that the cost of transporting a 40-foot container (FEU) from a Southeast Asian port to its peers on the Latin American Pacific coast has had a value of $7,613 on average in the sixth month of this year, an upward variation of 37.72% compared to the previous month.
“It is important to note that the accumulated performance of our index reflects a general increase of +236% compared to the end of the first quarter of the year. In line with our past newsletters, we have highlighted that the tradelane has reported growth in terms of space capacity,” said the freight forwarder firm in its monthly report.
Despite this increase in maritime freight, importers still expect the market to make downward adjustments given the additional capacity deployed by shipping lines.
In addition, these same companies have announced new openings of maritime services that connect Asia with western Mexico, meeting the growing demand for the movement of Asian merchandise; the last of them has been ONE.
“With information as of the end of June 30, we can highlight that the commercial route has received +500 thousand additional TEUs (20-foot containers) during the first half of the year, thus benefiting the entire west coast of LATAM (WCSA) with greater scope of supply in the face of a bullish market,” stated Eternity Group México.
This same situation has merited significant downward adjustments in the cost of freight that began to be charged during July, also driven by a slight slowdown in the demand for spaces led by the electric car industry (which, due to its size in terms of volume, they have generated an imbalance in the short-term rate).
“As a consequence of this new situation, Q3 (third quarter) levels could find a new equilibrium point below seven thousand dollars per 40-foot container , as long as there is no significant adjustment on supply or an event. economic/geopolitical that again causes disruptions in the market,” the company said.
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