Asia-US container rates still rising; liquid tanker rates ex-US Gulf largely stable
Rates for shipping containers from east Asia and China to the US rose this week on resilient demand and persistent, weather-driven congestion at Asian ports, while rates for liquid chemical tankers ex-US Gulf were flat to slightly higher. CONTAINER RATES Container rates to the US West Coast are between $7,400-8,300/FEU (40-foot equivalent unit) while rates ...
Asia and US container shipping rates continue to rise amid resilient demand and congestion at Asian ports, while liquid chemical tanker rates from the US Gulf are mostly stable. Container rates to the US West Coast hover between $7,400-8,300 per 40-foot equivalent unit, while rates to the East Coast sit between $9,600-11,500 per FEU.
These rates remain near the mid-2022 highs for both routes. Analysts suggest the rising trend may be nearing an end as we enter early October. Drewry reports that carrier capacity management includes blank sailings, with 15 announced for next week after nine in the current week. Despite reductions, rates are expected to decrease next week before the Golden Week holiday in China.
Freightos shows a 4% increase in rates to the West Coast and a 1% decrease to the East Coast. Meanwhile, tanker rates ex-US Gulf for chemical products such as styrene and methanol are largely stable, though there are minor increases on the higher end of the range. The US Gulf to Asia route remains unchanged, with owners waiting for contract nominations.
Overall, the market for container shipping and tanker rates remains quiet, with limited space and inquiries.
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.
