While we have seen China and the United States extend their tariff pause for a further 90 days from 12 August, we wait to see if they can reach a satisfactory trade deal for both sides, with tariffs currently set at 30% between the two countries.

Liner companies have continued to blank services to stabilise rates and this appears to be having the desired effect with the slowdown in rates coming off.

Across the FBX suite of routes, we have seen a downward trend in all rates ex China since the start of the month. FBX01 (China/East Asia – US West Coast) ended the week at $1,742/FEU, down $627/FEU from start of August. FBX03 (China/East Asia – US East Coast) ended the week at $2,726/FEU down $979 compared with start of the month. FBX11 (China/East Asia – North Europe) ended the week at $2,953/FEU down $504 on the start of the month and down $139 from last Friday. FBX13 (China/East Asia – Mediterranean) ended the week at $3,080/FEU down $47 from last Friday and down $126 from the start of August.