The liner industry woke up to positive news this week, that the US and China have come to an agreement to significantly lower their tariffs against each other for a period of 90 days whilst they continue to talk.

The US will lower tariffs from 145% to 30%, while China's retaliatory tariffs on US goods will drop to 10% from 125%.

This news should have a positive impact for the liner industry as shippers will likely now restart importing goods from China with haste, in case after the 90 days expire the higher tariffs return, so we could see more instability to come in mid Q3, just prior to peak season.

Liner companies that had suspended some services, would be expected to resume normal loop programmes in the next couple of weeks.

Consequently, transpacific container rates on FBX01 (China/East Asia – USA West Coast) have creeped up this week, ending the week at $2,718/FEU $307 higher than last Friday. FBX02 (USA West Coast – China/East Asia) rates were flat over the week finishing at $438/FEU. FBX03 (China/East Asia – USA East Coast) also saw a week-on-week increase of $354 finishing the week at $3,784/FEU. FBX11 (China/East Asia – North Europe) rates increased $173/FEU, finishing the week at $2,578/FEU. FBX12 (North Europe – China / East Asia) increased to $452/FEU. FBX13 (China/East Asia – Mediterranean) increased by $73 ending the week at $3,009/FEU.