Conflict drives up bunker prices, helping intra-Asia rates end six-week decline

Rates on intra-Asia trades have ended six weeks of decline, helped by port congestion in China and a rebound in bunker prices, with average prices up 1% week on week on 6 August, to $970 per 40ft Drewry said the ongoing US-Iran conflict pushed Shanghai–Nhava Sheva rates up 8% from 30 July, to $1,767 per 40ft, with Shanghai–Jebel Ali prices rising 7%, to $7,143. In contrast, rates from Shanghai to Read full article →