Asia-US container rates edge higher, tanker rates softer; Panama Canal limits transits
Rates for shipping containers from east Asia and China to the US edged higher, liquid chemical tanker rates ex-US Gulf were stable to softer, and the Panama Canal will limit the number of daily transits in September, highlighting shipping news this week. CONTAINER RATES Container rates from Asia to the US continued to rise this ...
Asia-US container rates increased, while tanker rates remained relatively stable, and the Panama Canal will restrict the number of daily transits in September, according to shipping news this week. Container rates from Asia to the US rose more than four times since the start of the US-Iran war, with rates to the West Coast now between $6,000/FEU and $7,400/FEU, and rates to the East Coast between $8,000/FEU and $10,500/FEU.
Drewry noted a 9% week-on-week increase in container rates from Shanghai to Los Angeles and New York, with demand remaining resilient on the transpacific trade lane. The Panama Canal will impose surcharges on Asia–USEC and Asia–Gulf Coast routes in September, potentially adding pressure to rates. Freightos reported a 9% increase in rates to the West Coast and a 3% increase to the East Coast.
Peter Sand, an analyst at Xeneta, highlighted the significant savings potential for shippers importing into the US West Coast compared to the East Coast. US chemical tanker freight rates were steady to softer, with rates on the transatlantic route decreasing slightly, while most trade lanes faced downward pressure due to issues with the Rhine River.
Written by urgent.news from Hellenic Shipping News's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.