Asia-Mexico sea freight “collapses” in September

According to the EAX Index, from Eternity Group, the cost of freight stood at a level of 3,762 dollars per 40-foot container (FEU) on average during last September, 45.06% less than a month before, the deepest correction so far this year. “In general terms, the reason for the collapse of the maritime rate in September is due to two factors: a very weak demand compared to last year, sales below the expected level, inflation, given the current context”, according to the monthly report of Eternity.

This impact on the international logistics operation from Asia to Mexico generates a lot of uncertainty about how the operation will be carried out in the following months, and what the reference freight level will be in 2023. It was also mentioned that logistics costs are highly volatile. and still far from finding some stability, at least for the rest of the year. In October, a significant cut in capacity by maritime lines is expected, with a strong impact in week 42, which will generate a rebound in maritime rates towards the end of the month.

Source T21