Spot rates for ocean shipping have remained relatively stable in mid-June, but experts are warning industry stakeholders to prepare for more upheaval as the Israel-Iran conflict escalates.
Average spot rates between the Far East and the U.S. West Coast, according to shipping price analysis service Xeneta, rose just slightly, reaching USD 5,345 (EUR 4,639) per 40-Foot Equivalent Unit (FEU), up from USD 5,082 (EUR 4,411) on 5 June.
Average rates between the Far East and the U.S. East Coast also went up slightly to USD 6,568 (EUR 5,701) per FEU from USD 6,160 (EUR 5,347).
Xeneta Chief Analyst Peter Sand said that this relative stability appeared to be likely due to recent trade talks between the U.S. and China.
“A narrowing of the market mid-high and mid-low in Xeneta data indicates the fear and uncertainty that drove spot rates upward in the wake of the 90-day lowering of U.S.-China tariffs is now easing,” he said.
He added, however, that the emerging conflict between Israel and Iran could ...
