Report Highlights
As of November 1, with many carriers pulling the General Rate Increases (GRIs), but, with sailings heavily booked, further rounds of GRIs are expected on 15 November and 1 December. The outcome of the tariffs is heavily dependent on the US and Chinese President’s upcoming negotiations.
Effect of China’s trade tariffs
Zvi Schreiber, CEO, Freightos said, “There’s a reason why China-West Coast prices have been at 18-month highs for 13 straight weeks. It’s not just that it’s peak season – they have been largely spurred by advance shipments before each successive tranche of China trade tariffs takes effect. Right now, people are trying to beat the 1 January tariff increase. If President Trump holds good on his threat to slap a tariff on the remaining $257 billion worth of imports should his meetings with President Xi at G-20 fail to break the deadlock, then expect transpacific prices to remain strong in January ahead of yet another tariff hike”.
Weekly report
| Week 44 | Week 43 | Last year* | |
| Global | $1,657 | 3% | 33% |
| China-US West Coast | $2,557 | 1% | 69% |
| China-US East Coast | $3,496 | 6% | 65% |
| China – North Europe | $1,525 | 6% | 3% |
| North Europe – US East Coast | $1,789 | -2% | 29% |
| * Compared to the corresponding week in 2017 | |||
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Source: The Baltic Briefing
