Container shipping rates from East Asia and China to the United States remained generally stable this week. Meanwhile, liquid chemical tanker rates from the Gulf of America to Europe are also on the rise.
Container Rates to the U.S. Coasts
Shipping rates to the West Coast of the United States increased in the lower segment, reaching a range of $7,540 to $8,340 per 40-foot equivalent unit (FEU), while rates to the East Coast decreased slightly to $9,300 to $11,500 per FEU. These rates are still close to their highest levels since mid-2022 for both routes.
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Rates provided by supply chain consultants at Drewry indicate that rates from Shanghai to Los Angeles have remained stable, while rates from Shanghai to New York have decreased by 3%. Drewry also reported that traffic at Chinese ports has begun to decline and the average waiting time for ships in Shanghai improved to 35 hours last week.
Liquid Chemical Tanker Rates
Liquid chemical tanker shipping rates assessed by ICIS remained stable to higher this week. In the trade route from the Gulf of America to Antwerp, Rotterdam, and Amsterdam (ARA), activities have increased and contract volumes in the market continue. Due to these conditions, space in the market is limited, and rates are under upward pressure.
On the spot side of this market, activities continue relatively actively, and several traders have inquired about space. Additionally, chemicals such as acetic acid, ethanol, methyl tert-butyl ether (MTBE), methanol, and styrene remain dominant on this route. Meanwhile, the number of available ships is limited, which further pressures rates.
From the Gulf of America to Brazil, contract of affreightment (COA) shipments account for a significant portion of capacity and support the market. Overall, the market remains challenging, and spot rates on this route have remained stable.
Clean petroleum product (CPP) rates to this region remain strong and have reduced the number of ships available for the chemical sector. As a result, rates are under upward pressure but have remained stable for now. Methanol and caustic soda shipments are typically seen in abundance in the market.
On the route from the Gulf of America to India, quotes have been very limited, and demand appears to have decreased compared to activities in previous weeks. The number of methanol and monoethylene glycol (MEG) shipments in the market has also decreased this week.
On the route from the Gulf of America to Asia, COA volumes continue to dominate any available capacity, and for this reason, rates have remained stable. However, there may be significant pressure on rates as most owners are looking to fill any available space.
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