Last week we saw the USA and China agree on a 1 year pause on port fees to be imposed on each other’s linked vessels. This appears to have given renewed positivity to the liner companies and shippers, also with just under 7 weeks until Christmas, the next couple of weeks are the last chance to import goods Ex China to be available pre-Christmas in the States and Europe.

The effects of this news and proximity to Christmas have seen rates increase dramatically on FBX01 (China/East Asia – USA West Coast) increasing at the start of this week almost $1,000 or 50pct and ending this week at $2,956. FBX03 (China/East Asia – USA East Coast) is the only route Ex Far East that has come down in value this week by $96, ending the week at $3,532. FBX11 (China/East Asia – North Europe) increased $167 week on week, ending the week at $2,426. FBX13 (China/East Asia – Mediterranean) has shown a good gain week on week up $506 to $2,840 today, CMACGM have announced that they are increasing their FBX13 equivalent service rates into the $3,000’s from 2H Nov so we shall see if others follow suit.