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Many liner owners are still not committing to a Red Sea return, with the exception of Maersk who have again this week announced they will be routing more of their services through in the coming months.

For now, rates should remain fairly solid and away from historical lows, with tonnage fully occupied with the extra tonne miles around the COGH. However the moment that a full safe return to Red Sea transits becomes the norm again, it will be interesting times as tonnage will free up on a huge scale and side effects will be huge for rates.

FBX01 (China/East Asia–USA West Coast) has come off $232 from a week ago, ending the week at $1,899. FBX03 (China/East Asia–USA East Coast) dropped $752 over the week, ending the week at $3,061. FBX11 (China/East Asia–North Europe) came off $172 from last Friday, ending the week at $2,571, down $429 from the start of the year. FBX13 (China/East Asia–Mediterranean) decreased by $460 since last Friday and $1,070 from the start of the year, ending the week at $3,774.