As we enter the summer lull, we wonder whether we have seen an early peak season this year, or will we see an agreement between China and the USA put in place that will reduce tariffs back to lower levels that could then give us the traditional peak season in September - October.

We have just witnessed shippers moving more containers than normal to avoid these huge tariffs, the Port of LA saw its busiest ever day in July.

The US and EU are closing in on a 15 per cent tariff deal, whilst other deals have been done with Vietnam and Japan in recent weeks.

Liner companies have started blanking services again to try and stabilise rates. The FBX routes have all remained relatively flat week on week. FBX01 (China/East Asia – USA West Coast) ended the week at $2,359/FEU, up $81/FEU from last Friday but down $1,090 from the start of the month. FBX03 (China/East Asia – USA East Coast) is today at $4,097/FEU up $47 compared with last Friday and down $862 from the start of the month. FBX11 (China/East Asia – North Europe) ended the week at $3,465/FEU down $62from Friday last week and FBX13 (China/East Asia – Mediterranean) ended the week at $3,332/FEU down $123 from last Friday.