Container shipping rates from East Asia and China to the United States have generally increased this week, while liquid tanker ships from the Gulf of the United States have remained stable or increased due to limited space.
Container Shipping Rates
Container shipping rates to the West Coast of the United States range from $7,550 to $8,400 for a 40-foot equivalent unit (FEU) and to the East Coast between $9,600 and $12,000 for FEU. These rates are close to the highest prices observed in mid-2022. With 10 empty trips planned for next week, it seems that rates may experience downward pressure next week.
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Panama Canal Conditions and Liquid Tanker Rates
Conditions at the Panama Canal have improved, and due to rising water levels in Gatun Lake and near-average rainfall in the watershed, Panama Canal authorities have decided to increase the number of daily transit permits to 33 from 32 in October. This change follows weather forecasts and improved water levels in Gatun Lake. The maximum allowable depth for Neopanamax locks has also been increased to 14.94 meters.
Liquid tanker shipping rates for transporting chemicals from the United States have remained stable or increased this week. Rates on the Atlantic transit route are rising due to upward pressures. Many shipping companies on this route have limited space due to high demand, which could lead to further rate increases. Methanol remains dominant on this route, with several large shipments being transported.
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