- Global container shipping rates have experienced a slight uptick this week but remain relatively stable compared to the rapid increases seen earlier in the year.
- The Drewry World Container Index, a key industry benchmark, rose by just 1%, indicating a potential plateau in rate hikes.
While rates from China to the US East Coast continue to climb, nearing the $10,000 per forty-foot equivalent unit (FEU) mark, the West Coast has also seen increased activity. The Port of Los Angeles reported a 10% month-over-month increase in cargo volume, driven by strong consumer demand and anticipation of potential tariff hikes.
Liquid Chemical Tanker Rates Soften
In contrast to the container shipping sector, rates for liquid chemical tankers from the US Gulf to Asia and Brazil have softened due to decreased cargo volumes and increased vessel availability.
Panama Canal Recovery Continues
The Panama Canal, which faced restrictions due to drought, is gradually recovering. Transit limitations are easing, and wait times for vessels are decreasing. This is expected to benefit chemical shipments between regions.
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Source: ICIS
