Group 1 - Positive developments in trade negotiations between China and the U.S. are reported, particularly regarding a potential deal for TikTok, which may benefit trans-Pacific shipping [1] - Container rates from China to the U.S. West Coast increased by 7% to $2,309 per forty-foot equivalent unit (FEU) as of September 16, and are 34% higher than at the end of August [2] - Rates for China-East Coast shipments rose by 4% to $3,368 per FEU, with a 24% increase observed in September [2] Group 2 - Ocean lines' general rate increases, along with blanked sailings and higher demand ahead of China's Golden Week holiday, contributed to the rate improvements [3] - The National Retail Federation predicts a 10% decrease in second-half shipments compared to the same period in 2024, with October imports expected to be 13% lower and November and December down by 20% [4] - September imports are 16% higher than earlier projections, indicating some positive effects from the ongoing 30% U.S. tariffs on China [5] Group 3 - Ocean Network Express (ONE) is redeploying 10 Chinese-built ships for U.S. service as part of a restructuring of its trans-Atlantic service [6]
‘TikTok’ of rising ocean rates as China prospects improve