Container

In recent weeks, many of the Major liner owners have announced drops in their earnings, this could well be signalling that the current tonnage oversupply situation, combined with a potential gradual Red Sea return, may lead to softer container rates this year.

Since Covid, rates have seen highs and moderate levels that were never achievable pre-Covid. Perhaps we will see a return to post Covid levels, unless carriers take measures such as scrapping older vessels to reduce oversupply.

FBX01 (China/East Asia – USA West Coast) has lost just $21 from last Friday, ending the week at $1,878. FBX03 (China/East Asia – USA East Coast) remained almost flat week on week, ending the week at $3,047 down just $14. FBX11 (China/East Asia – North Europe) came off $164 from last Friday, ending the week at $2,407. FBX13 (China/East Asia – Mediterranean) was down just $69 since last Friday closing the week at $3,705.