Source: Market average rates for 40‘ containers according to www.xeneta.com
Trade Analysis: Transatlantic Westbound
Situation
The market is relatively stable and experts forecast a slight decrease in rates. Fortunately, the closure of railway tracks around the Port of Hamburg did not lead to the expected delays. August is generally expected to be a quieter month.
Recently, customs tariffs on most European (EU) goods shipped to the US were set at 15%, while tariffs on steel and aluminum remain at 50%.
Obstacles
According to President Trump, this “deal” is intended to be a long-term agreement. EU goods will become more expensive in the US. It remains to be seen how this will affect trade volumes. However, the decision should calm the market to some extent, putting an end to a period of uncertainty.
Outlook
The certainty surrounding this long-awaited agreement could offset the higher costs associated with increased tariffs, prompting us to anticipate a modest rise in volumes in September.
What does a bird have to do with cranes?
- Facts
It’s impossible to think of a world without cranes. Whether used for loading cargo, or in the construction industry – cranes are among the most important man-made mechanical devices.
The CONEX box: a direct precursor of the container
- Facts
Developed by the U.S. Army shortly after the end of World War II, the CONEX box can now be considered the forerunner of today’s conventional containers.
