With the 90-day pause in tariffs imposed by the USA set to end on 8 July, only a deal with the UK has been finalised so far, reports Baltic Exchange.
Pause in Tariffs, Rate Retreat
This means the US will either reimpose tariffs on other countries or grant a further extension. It will be interesting to see the outcome and the potential knock-on effects on the liner market.
The conflict in the Middle East has calmed down for now with a Ceasefire in place, and as most container vessels transit via the Cape rather than the Suez, the liner market remains mostly unaffected.
- FBX continued to see a weakening of rates on services from Far East to both coasts of the USA.
- FBX01 (China/East Asia – USA West Coast) ended the week at $3,271/FEU, down $1,245/FEU from the same time last week and down $2,660 on a fortnight ago. FBX03 (China/East Asia – USA East Coast) is today at $5,975/FEU down from $7,177/FEU last Friday, off by $1,202 in a week.
- FBX rates to the Continent and Med from the Far East remained pretty steady all week, with just the Med slightly off.
- FBX11 (China/East Asia – North Europe), finished the week at $2,971/FEU, up $5 on last week and FBX13 (China/East Asia to Mediterranean) rates ended at $4,171/FEU down $189 on the end of last week.
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Source: Baltic Exchange
