With the uncertainty continuing in the Red Sea, we are yet to hear any carrier formally announce to the market that they will resume regular Red Sea transits, but if this does happen early next year this will change the dynamic for the trades ex Far East to Europe, the Med and East coast USA, with faster transits times and more frequent services.

As we have entered December, we have seen FBX01 (China/East Asia – USA West Coast) gain $396 since a week ago, but is still down from almost $3,000 at the start of November, it ended the week at $2,079. FBX03 (China/East Asia – USA East Coast) increased by $140 week on week but is down $568 from the start of November, it ended the week at $2,934. FBX11 (China/East Asia – North Europe) remained almost flat, gaining just $63 over the week and ending the week at $2,474, which is just $37 lower than the rate at the start of November. FBX13 (China/East Asia – Mediterranean) increased by $476 over the week ending at $3,358.