Container

Another week of ongoing tensions in the Middle East Gulf, with no end in sight, is going to keep bunker fuel prices high for now and have a knock-on effect on the container lines price per box movement worldwide.

With the Houthis claiming that they control the Bab el-Mandeb Strait, this could further cause problems for container lines who use the Suez Canal if they were to try and block vessels from transiting the strait.

The cross Pacific trade loop FBX01 (China/East Asia – US West Coast) gained $633 from last Friday ending the week at $8,348 and is up $2,254 since the start of August. Rates from the Far East to the USEC FBX03 (China/East Asia – US East Coast) lost $173 from last Friday ending at $9,606, which is up $464 since the start of last month.

Containers into the North Continent from the Far East FBX11 (China/East Asia – North Europe) decreased by $692 week on week, ending the week at $3,646 and is down $1,873 since the start of August. Trade into the Mediterranean from the Far East FBX13 (China/East Asia – Mediterranean) lost just $16 from the end of last week, ending the week at $3,913 and is down $2,603 from the start of August.