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Since the beginning of the Middle East conflict in February, we have seen freight rates rising on all the FBX routes due to the increased bunker fuel prices that liner carriers have been forced to pass onto their customers and will no doubt be passed onto end consumers.

If the current ceasefire holds and is extended, then a drop in oil and bunkers should lead to a stabilising of rates. 

This week we saw FBX22 (Europe – USA East Coast) rates go from a fairly consistent $1,400 to $2,237, reflecting bunker surcharges kicking in. The other key FBX routes fared as follows. FBX01 (China/East Asia – USA West Coast) was stable week on week, ending the week at $2,559, $533 higher than before the conflict. FBX03 (China/East Asia – USA East Coast) is up by $199 from last week, finishing the week at $3,678, $994 above its value before the conflict. FBX11 (China/East Asia – North Europe) dipped by $208 from end last week, ending the week at $2,778. FBX13 (China/East Asia – Mediterranean) decreased $46 since last week, ending the week at $3,813.