Sino-US sea freight prices fall by 70%, shipping companies cut routes to stop losses.

The sluggish willingness to ship has led to a decline in ocean freight prices. According to interviews, recently, the rates for the US East Coast route have fallen to $3300-3800/FEU, and the US West Coast route rates are at $1700-1800/FEU. In comparison, the rates for the US East Coast route reached as high as $7000/FEU in early June, and the rates for the US West Coast route reached $6000/FEU.