- Trade Deal Uncertainty Persists with 30% Tariffs in Place.
- Liner Companies Continue Blanking to Stabilise Rates.
- Freight Rates ex China Show Consistent Downward Trend.
China and the United States have decided to extend their tariff pause for another 90 days, starting from August 12. Still, there’s a cloud of uncertainty hanging over whether both countries can come to a satisfactory trade agreement, especially with tariffs remaining at 30% between them, reports Baltic Exchange.
Liner Companies Keep Up with Blank Sailings
Shipping companies are continuing their practice of blank sailings to help stabilize freight rates. This approach seems to be paying off, as the recent sharp drops in rates are starting to level off.
Freight Rates from China Show a Downward Trend
Freight rates across the FBX suite of routes have been on a steady decline since the beginning of August:
- FBX01 (China/East Asia – US West Coast): $1,742/FEU, down $627/FEU from early August
- FBX03 (China/East Asia – US East Coast): $2,726/FEU, down $979 compared to the start of the month
- FBX11 (China/East Asia – North Europe): $2,953/FEU, down $504 since early August and $139 from last Friday
- FBX13 (China/East Asia – Mediterranean): $3,080/FEU, down $126 since early August and $47 from last Friday
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Source: Baltic Exchange
