EnContainer rates for shipping out of China fell 1.4% during August, despite a late rally in South Korean and Japanese rates resulting from Hanjin Shipping’s move into financial administration. This may reflect the Panama Canal effect on West Coast U.S. rates and economic weakness in South America. Rates may increase – general rate recovery notices averaging $608/40’ unit were posted by CMA-CGM, Hapag-Lloyd and Maersk since August 1. Fuel costs and dry bulk rates were 10% higher,while tanker rates fell 5% and are now a quarter lower in 3Q.
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