Ocean Freight Rates Report - May

Period : 28th May 2018 – 14th May 2021

Date : 15th May 2021

Researcher : Marsella Ismail

Source : Freightos Baltic Index https://fbx.freightos.com/freight-index/

Global Average Rates of Ocean Freight

Currently the global average rate keeps increasing with a new 3 year high every week since March 2021. The previous increase was due to a few routes, China/East Asia to North Europe, North America East and West Coast. This time, almost all routes’ rates keep increasing. Further details below:

For China/East Asia to North Europe, the current rate increased to almost the same as its highest rate in Feb 2021.

Whereas for the returning route, the rate started increasing in May 2021 and reached the highest at the current date.

For China/East Asia to North America East Coast, the rate increases and reaches the highest this week.

China/East Asia to North America West Coast also shows an increasing trend from May 2020 and reached its highest at this moment.

For Europe to South America East Coast, the rate is consistent and started to increase on April 2021 and reach the highest in May 2021.

Whilst for Europe to South America West Coast, the rate started increasing in April 2021 and reached the highest on May 14th.

For North Europe to North America East Coast the rate also started increasing in April and currently peaks.