Ports

Ocean Freight Rates Defy Peak Season Expectations as Capacity Constraints Persist

Ocean freight rates remain elevated despite predictions of post-peak relief, as robust US import demand and carrier capacity reductions continue to support pricing pressure. September US imports are forecast to reach approximately 2.3 million teu, roughly 10% above year-ago levels, extending the peak season beyond earlier expectations. China-US west coast rates have held near $6,000 per container, while east coast pricing remains above $9,000. Weather disruptions compound the tightness, with three typhoons affecting Chinese ports recently causing vessel delays of seven to 10 days around Shanghai. As of 12 September, 157 vessels awaited berths in Shanghai, with potential backlog effects extending into October. Carriers are simultaneously implementing 78 blank sailings between weeks 38 and 43, with Pacific Southwest services absorbing 29 of those cancellations and removing approximately 32% of capacity on affected routes.