After four consecutive weekly declines, container shipping rates are rising again, with an 8% increase this week over the previous one, up to an average of $2233/FEU.
The 90-day temporary truce in the tariff war between China and the US had the immediate effect of encouraging shippers to take advantage of the time window to send as much cargo as possible to the US. This pushed up freight rates, which rose sharply on both the Shanghai-New York route (+19%, to $4350/FEU) and the Shanghai-Los Angeles route (+16%, to $3136 /FEU).
Other routes recorded more marginal increases, like the +1% on the New York – Rotterdam one (up to $824/ FEU).
On the other hand, tariffs on the Shanghai – Rotterdam; Shanghai – Genoa and Rotterdam – New York routes were down 1% to $2035, $2742 and $1961 dollars per FEU respectively.
Freight rates on Rotterdam – Shanghai and Los Angeles – Shanghai trade lanes remained stable.
Translation by Giles Foster
