Fresh insights from FreightWaves’ SONAR platform reveal a surge in laden containers from China to the U.S. west coast, nearing record highs as the July 9 expiration of the China-U.S. tariff pause looms. However, the container rate story tells a different tale.
Freightos reports that between late May and mid-June, rates for Asia-to-North America west coast shipments skyrocketed by over $3,000 per FEU—a staggering 115% jump—peaking at $6,000. But by last week, a mix of demand fluctuations and capacity challenges sent rates tumbling to $3,388 per FEU. That’s a 43% drop from June’s high, though still 22% above late May levels.
The east coast saw a similar, albeit less dramatic, trend. Rates climbed 80% from late May to mid-June, hitting $7,200 per FEU, only to slide 15% to $6,116 by month’s end. This early-season rate dip has carriers mulling capacity cuts.
Freightos Head of Research Judah Levine noted that despite the tariff-driven rate spikes in June, peak rates for both lanes were at least $1,000 per FEU lower than last year. This could signal overall capacity growth in the container market.
ANA Pushes Back Nippon Cargo Airlines Takeover to August
ANA Holdings has hit pause on its acquisition of Nippon Cargo Airlines (NCA), delaying the deal by a month due to ongoing regulatory reviews, according to Air Cargo News. Originally slated for a July 1 share exchange, the new target date is August 1, pending competition authority approvals.
The acquisition, first announced in March 2023, was initially expected to close by October 2023. The delay stems from reviews by authorities in China and other jurisdictions.
The deal involves the transfer of NCA, a Boeing 747-8 freighter operator, from the NYK shipping group. NYK is offloading NCA due to the high costs of running the freighter airline. NCA currently operates eight 747-8Fs and charters five 747-400Fs through ASL and Atlas Air.
For ANA, the takeover is a strategic move to expand its air cargo network and elevate its service offerings. The airline currently operates six 767 freighters and two 777 freighters, and the addition of NCA’s fleet will significantly bolster its cargo capabilities.
Copyright Seanews International Shipping Magazine