Container imports on both the US East Coast (USEC) and West Coast (USWC) had a strong year in 2018, growing 3.7% and 8% respectively in the first 11 months of the year compared to the same period in 2017.
The container shipping lines received an average rate 7% (42 USD) lower in 2016 than in 2015, if they operated in the spot market on all Shanghai Containerized Freight Index (SCFI) trade routes. This has primarily been due to the devastating low rates received in the first half of 2016, as the average rate received in H2 2016 was 22% higher than the rate received in H2 2015.
US economic growth and its accompanied consumer spending is on the rise – as shown by key indicators followed by BIMCO’s shipping market analyst – and will result in stronger demand for container shipping.
BIMCO representatives from the Maritime Information Department have attended the 5th session of the International Maritime Organization’s (IMO) Sub-Committee on Carriage of Cargoes and Containers (CCC 5), held at the IMO London headquarters from 10 to 14 September 2018.