EC2508 rallied into the close of the morning session on market chatter that Maersk may list some freight rates above $2,400 per FEU for the third week of June. Maersk typically starts by offering a freight rate low enough to secure bookings 2-4 weeks out, then lets the market bid up the price. As a result, it tends to begin each week’s sailings with lower rates.
The freight futures market in Shanghai remained range-bound today, as participants await Maersk’s quotation for the third week of June, despite CMA CGM and MSC pushing for rates of $3,900–4,000 per FEU from the second half of June.
Transpacific freight rates recorded their largest ever one week jump as the impact of TACO (Trump Always Chickens Out) from the roll back of US tariffs has provided a windfall for the container market. The market surge has also spilled over into the charter market where vessel availability is very low and carriers are still seeking tonnage to take advantage of the large rate hikes. The legal challenge in the US to Trump’s tariffs has added further uncertainty to the transpacific traffic volumes
Charter rates have retraced all of their recent slump after the reversal of the US tariffs pushed the market back up to where they started in early April. Vessel availability in the larger sizes remains very limited with all open candidates over 4,000 teu including relet units already snapped up or withdrawn. Forward deliveries have stretched into September but with little clarity on market direction after the 90-day tariff truce ends in the US, only a few carriers are willing to commit forward
The EC2506 contract, which will be settled based on the average SCFIS published on the last three Mondays of June, currently trades at a 46% premium to the SCFIS, which remained in a narrow band of 1,247-1,265 index point in the last 3 weeks. Even if SCFIS matches the SCFI’s 38% gain last week, rates need to rise further to match current forward prices. Maersk’s extended their low Freight All Kinds (FAK) quotation for the second week of June at just $2,100 per FEU mid-week before raising them ab
Carriers pushed ahead with Asia-Europe rate hikes in June but the gains were lower than initially expected with the SCFI rates rising to $1,587/teu to North Europe, compared to initial plans to raise rates to $1,800-1,900/teu and $3,000-3,200/feu. Carriers have already started to undercut these rates with the Transpacific rate strength failing to spillover to the European routes. June rates are expected to roll back as attention shifts to the next round of rate hikes in July with CMA CGM announ
Register Free Trial Transpacific freight rates recorded their largest ever one week jump as the impact of TACO (Trump Always Chickens Out) from the roll back of US tariffs has provided a windfall for the container market. The market surge has also spilled over into the charter market where vessel availability is very low and carriers are still seeking tonnage to take advantage of the large rate hikes. The legal challenge in the US to Trump’s tariffs has added further uncertainty to the transpa
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