Container freight rates from east Asia and China to the United States moved in different directions this week, as easing import demand offset expectations of slightly tighter capacity. Hellenic Shipping News, carrying reporting by ICIS, put West Coast rates at $7,515–8,365 per 40-foot equivalent unit (FEU) and East Coast rates at $9,600–11,500/FEU. Both routes remained close to their highest levels since mid-2022.
Drewry recorded weekly declines of 6% on Shanghai–Los Angeles shipments and 5% on Shanghai–New York services. Six cancelled sailings were announced for the following week, compared with five in the current week, pointing to tighter capacity. Nevertheless, Drewry expected rates to fall further as strong US import demand began to ease. Freight Right’s figures showed a 1% decline to the West Coast and a 0.22% increase to the East Coast.
Freight Right founder and chief executive Robert Khachatryan said weaker volumes and more reliable vessel schedules were improving space availability and giving importers greater booking flexibility. He expected China-US ocean freight prices to remain broadly steady through the first half of November, with some scope for modest falls. Freightos, by contrast, reported weekly increases of 3% to the West Coast and 9% to the East Coast. Its research head, Judah Levine, said the gains were unexpected, although some forwarders continued to anticipate seasonal easing. The Shanghai Containerized Freight Index rose 0.16%, its fourth consecutive weekly increase, while NYSHEX recorded gains of 1.9% to both US coasts.
Chemical tanker freight assessed by ICIS was mostly higher, according to Hellenic Shipping News, with increases from the US Gulf to Europe, Brazil and India. On the Rotterdam route, November space for small parcels was limited, while accommodating larger cargoes proved difficult. Clean petroleum product vessels were pursuing stronger returns in their own market, reducing availability for chemical shipments and helping lift rates for larger parcels.
US Gulf–Asia chemical tanker rates held steady for both small and large parcels, with the route still reliant on contract-of-affreightment volumes. Activity towards Brazil increased, particularly for smaller shipments, but enquiries did not indicate a significant strengthening of demand. A tighter vessel positions list nevertheless supported freight rates, which were expected to remain under upward pressure. On the US Gulf–west coast India route, several large parcels of monoethylene glycol, methanol and ethanol were seeking space, leaving rates slightly higher week on week.