Rates continue to come under pressure following the recent trend but at a steady pace with the drop slowing, reports the Baltic Exchange.
The FBX headline rate is down 2% over the week. FBX01 falling from $1522 to $1431 down 6%, FBX03 $3283 to $3013 down 8%, FBX11 $1760 to $1721 down 2%, and FBX13 $2177 to $2108 down 3%.
We expect the trend to continue in the immediate future, however today’s announcement from China about additional port fees for American ships is still being digested and could have ripple effects in the market.
US container imports fell in September, and Chinese imports into the US were especially weak. The feeling is that the tariff environment (especially changes under the Trump administration) is suppressing or delaying trade flows, which is putting downward pressure on volumes.
Did you subscribe to our daily Newsletter?
It’s Free Click here to Subscribe!
Source: Baltic Exchange
