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An eventful week for all the major trade lanes as the knock-on effects of the Middle East Gulf situation have caused rates to rocket.

The transpacific loop saw a 33% increase, FBX01 (China/East Asia – US West Coast) increased by $1,591 against the end of last week, ending the week at $4,816, this route is now $2,000 higher than the start of May.

The FBX03 (China/East Asia – US East Coast) is up by $1,304 week on week a 20% rise in a week, ending this week at $6,386, this is $2,046 above the start of May’s level. The Far East to the Continent increased by 26%, this is represented by FBX11 (China/East Asia – North Europe) and increased by $1,063 week on week, settling the week at $4,031, up $1,430 since the start of May. Rates into the Mediterranean also jumped by a sizeable amount up $975 on the previous week FBX13 (China/East Asia – Mediterranean) finished the week at $5,339, up $1,759 from the start of May.