Shipping container rates from east Asia and China to the United States have increased again this week, according to a report from ICIS. Since the start of the Iran war, the cost per 40-foot equivalent unit has risen by approximately $1,000.

Read also: Container Spot Rates Rise Again as Early Peak Season Drives Shipping Demand

Data from the online shipping marketplace Freightos showed a 1% decline in rates to both US coasts. However, compared to the beginning of the war, rates to the West Coast are 56% higher and rates to the East Coast are 41% higher. Judah Levine, head of research at Freightos, stated that the ongoing closure of the Strait of Hormuz amid the US-Iran conflict, combined with the approaching peak season, is expected to drive demand-led rate movements, influenced by higher fuel costs and blank sailings for capacity management. Levine added that transpacific rates are anticipated to rise further once peak-season demand begins. The National Retail Federation has indicated that peak season will start in July.

Supply chain advisors Drewry reported a 1% increase in rates from Shanghai to Los Angeles and a 2% increase from Shanghai to New York. Drewry expects rates to continue rising in the coming weeks due to tighter capacity from blank sailings and the implementation of general rate increases.

On the New York Shipping Exchange Freight Index, rates to the West Coast rose by 6.8% and to the East Coast by 3.3%. The Shanghai Containerized Freight Index, which tracks rates for containers departing Shanghai, increased by 3.6% to its highest level since June 2025.

Container shipping costs are relevant to the chemical industry because container ships transport polymers such as polyethylene and polypropylene in pellet form, as well as titanium dioxide.

In the tanker market, US liquid chemical tanker freight rates assessed by ICIS were steady to softer this week, with downward pressure on several trade lanes. Charterers are maximizing their contract of affreightment volumes on the US Gulf-Asia route due to very limited available tonnage and high spot rates. Many owners are avoiding sending vessels in that direction to circumvent long transit times via the Panama Canal and few available backhaul cargoes. Only a handful of market inquiries were observed, notably for BTX and ethylene dichloride.

Rates from the US Gulf to Rotterdam were also steady to softer, despite limited space among regular carriers. Contract tonnage continues to dominate, and spot demand remains relatively strong given the limited availability. Several larger cargoes of styrene, methanol, methyl tertiary butyl ether, and ethanol were seen. However, as clean petroleum product rates have dropped significantly, several outsiders have become available for both May and June, potentially adding to tonnage for completion cargoes. Easing demand for clean tankers appears to have attracted those vessels into the chemical sector, pushing rates lower.

On the US Gulf to South America trade lane, rates edged lower, with a few inquiries for methanol and ethanol widely noted. The market was relatively quiet with steady COA nominations, though more CPP vessels have entered the market, putting downward pressure on rates as more space becomes available.

On the bunker side, fuel prices in the US Gulf region have risen due to higher energy prices and were firmer week over week.

Source: IndexBox Market Intelligence Platform