Freight rates up: The market remains fragile

Freight rates from Asia to Hamburg are rising again from today. After the sharp drop in prices in recent weeks, the lines are making a new attempt to stabilize the level of Far East rates.

Market leader MSC has set the highest mark at USD 2,200. The shipping companies hope that the oversupply of slot capacity will decrease after Golden Week in China and due to increased blank sailings - thus creating room for further increases. The new rates will initially apply until the end of October. At the same time, yesterday, Tuesday, caused some movement: The US introduces new port charges for Chinese ships, China responds with counter tariffs on US ships. According to HSBC, the additional costs for Chinese carriers such as Cosco or OOCL could amount to up to USD 600 per container. Non-Chinese lines are avoiding the charges with ships built in South Korea or Japan. The industry is eager to see whether this is just a short-term reaction or the start of a trend reversal.

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