The liner market looks to have peaked for now, there has been a reduction in rates on the trans Pacific trade and Far East to Mediterranean trade, over capacity may have played a part here with GRI’s hard to sustain by liner companies, however rates from the East to the Atlantic have remained steady over the week.
Whilst the rising tensions in the Middle East and threats by Iran to close the Strait of Hormuz, there may not be too much change in the liner market as most large container vessels have been for some time been routing via the Cape of Good Hope, with only some smaller container vessels using the Suez Canal.
FBX01 (China/East Asia – USA West Coast) ended the week at $4,516/FEU, down $1,415/FEU from the same time last week. FBX03 (China/East Asia – USA East Coast) closed the week at $7,177/FEU marginally up from $7,124/FEU the week before. FBX11 (China/East Asia – North Europe), finished the week at $2,966/FEU, up $26 on last week. FBX13 (China/East Asia to Mediterranean) rates dipped to $4,360/FEU before finishing the week $211 less than end of the previous week.
