Container shipping rates from East Asia and China to the United States have changed mixedly this week due to expectations of tightening capacity on this trade route and declining import demand. Rates to the West and East coasts of the United States vary between $7,515 to $8,365 and $9,600 to $11,500 per 40-foot equivalent unit (FEU), remaining close to their highest levels since mid-2022.
Rate Decreases and Future Predictions
Rates provided by Drewry supply chain consultants have decreased by 6% from Shanghai to Los Angeles and 5% from Shanghai to New York. Drewry has announced that six empty trips are scheduled for next week, an increase from five empty trips last week, indicating tightening capacity. Additionally, strong demand for imports in the United States is declining, which could put further pressure on shipping rates. Therefore, Drewry predicts that rates will decrease next week.
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Tanker Shipping Rates and Impact on the Chemical Industry
Tanker shipping rates for chemicals in the United States, assessed by ICIS, have increased this week across most major trade routes. This increase includes rates for small shipments from the U.S. Gulf to Europe, Brazil, and India. For example, for the route from the U.S. Gulf to Rotterdam, limited cargo space remains for small shipments in November. The lack of demand has led clean petroleum product (CPP) cargoes to attract higher rates in the clean market, resulting in limited access to chemical cargoes.
Meanwhile, there is increased interest in caustic soda from the U.S. Gulf to the Aral region, with at least one 10,000-ton shipment for various dates in November. Additionally, two 15,000-ton shipments of styrene and one large shipment of MEG (monoethylene glycol) are also in transit. Rates from the U.S. Gulf to Asia have remained unchanged, and this route is more dependent on the volume of shipping contracts.
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