Latest news with #Trans-Atlantic
Yahoo
29-07-2025
- Business
- Yahoo
Ocean container rates becalmed as shippers, carriers try to be calm
Ocean container rates on U.S. trade lanes are drifting with the tides as shippers and carriers sweat chaotic trade negotiations and a looming tariff deadline that could again change the calculus of the supply chain. In the past week a series of agreements were forged between the United States and several key trading partners, specifically the European Union and Japan, notes shipping analyst Freightos. These deals set a new standard with a 15% baseline U.S. tariff on most EU and Japanese exports. The U.S.-EU agreement maintains this tariff on automotive exports, which have been subjected to 25% duties since earlier this year. However, agreements reached offer some respite with a reduction from previously threatened higher tariffs. From a freight perspective, these changing dynamics have had notable implications. Trans-Atlantic ocean freight volumes were steady with 2024 levels through April, but the subsequent implementation of automotive tariffs led to a 7% year-on-year decline in monthly volumes. Trans-Atlantic container rates have been level at about $1,900 per forty foot equivalent unit (FEU) since May. A significant tariff reduction on Chinese goods from 145% to 30% in mid-May prompted an early peak season surge, as Asia-U.S. West Coast rates spiked to $6,000 per FEU by mid-June. This surge was short-lived as rates fell back to pre-rise levels of approximately $2,300 per FEU by mid-July, stabilizing thereafter as carriers adjusted capacity in response to lower demand levels. Freightos alluded to additional agreements under negotiation with other key U.S. trading nations such as Vietnam, Indonesia, and the Philippines. These preliminary pacts, involving tariffs between 19% and 20%, reflect the Trump administration's broader strategy of anchoring tariffs within the 15% to 20% range. Such moves could both stabilize and blur traditional freight demand cycles as shippers adjust strategies to leverage tariff fluctuations. An extended pause in China retaliatory tariffs serve as a harbinger for potential continuity of peak season demand. An additional 90-day extension of the 30% baseline tariff through the end of the peak season could encourage certain importers to resume bookings, albeit with the overarching uncertainty possibly impacting volume predictions, Freightos said. Price stabilization is evident in Asia-Northern Europe shipping routes, albeit with reported price dips aligned to generalized peak season demand dynamics and ongoing congestion at major European ports. Current rates have leveled out around $3,419 per FEU, reflecting the cumulative impact of both demand spikes and subsequent vessel overcapacity. Find more articles by Stuart Chirls publishing container freight data HK company offers stake in port terminals sale to Chinese company South Korea offers billions to help make US shipbuilding 'great again' Houthis make new threats against Israel-linked shipping The post Ocean container rates becalmed as shippers, carriers try to be calm appeared first on FreightWaves.
LeMonde
15-07-2025
- Business
- LeMonde
Tariffs: Europe adopts a tougher stance in response to Trump
European leaders have gradually mobilized to restart trade talks with the US administration and to avoid the imposition on August 1 of 30% surcharges on all their exports, as announced by Donald Trump in a letter dated Friday, July 11. On July 14, Maros Sefcovic, the trade commissioner who leads negotiations on behalf of the 27 member states, stated after a meeting in Brussels with external trade ministers that such a surcharge would have dire consequences: "Trans-Atlantic supply chains would be heavily affected on both sides," adding: "I will definitely do everything I can to prevent this super negative scenario." To that end, negotiations are necessary, while also preparing retaliatory measures, the EU trade ministers insisted; there are, however, differences among the countries. "So we want a deal, but there's an old saying: 'If you want peace, you have to prepare for war,'" said Danish Foreign Minister Lars Løkke Rasmussen, whose country currently holds the rotating presidency of the EU. There should be no "taboo" in the standoff with Washington, added Laurent Saint-Martin, the French minister for external trade, echoing Emmanuel Macron, who had suggested as early as Saturday to "speed up the preparation of credible countermeasures, by mobilizing all instruments at [their] disposal, including the anti-coercion mechanism, if no agreement is reached by August 1."
Irish Independent
12-07-2025
- Irish Independent
Interest in free tours of Wicklow Town Heritage Trail grows thanks to new residents
Weekly volunteer guides have realised an increase interest among the long-established local population, with many of those who have taken part unaware of the depth of the rich history and heritage of their native town. There has also been a significant uptake in interest from newcomers to the area who have been fascinated by the history and heritage of their locality, with each week attracting an increased number of overseas tourists from the UK, mainland Europe, America and Australia. The tour includes the story of local man Robert Halpin who laid the first Trans-Atlantic cable, the history of the Abbey Grounds and the Franciscan Abbey, the story of Billy Byrne and the 1798 rising in Wicklow Town, the massacre of over 300 mainly women and children in Melancholy Lane by Sir Charles Coote in 1641, the story of the Black, the attempted landing by St. Patrick at Travelahawk Beach and the history relating to the Barrow Green. The free weekly guided walks commence from outside the Failte Ireland Tourist office in Fitzwilliam Square at 11 am each Saturday morning until September 27. The Wicklow Town Heritage Trail can also be self-guided and you can download the brochure for the trail by visiting where there are videos with various local actors telling the story of each key location.
Straits Times
20-06-2025
- Business
- Straits Times
Latvian president believes NATO will overcome obstacles, meet 5% goal
RIGA - Latvia's president expressed confidence NATO would agree to a new higher defence spending target demanded by U.S. President Donald Trump, despite Spanish objections, saying the alliance had little choice given the growing threat from Russia. Spain on Thursday asked to opt out of the plan to increase members' defence spending to 5% of their gross domestic product, as requested by Trump, a move which could derail next week's NATO summit at the Hague. Any agreement to raise defence spending needs unanimous approval by the 32 member states. Latvian President Edgars Rinkevics told Reuters on Friday he understood why countries further from Russia might have difficulties convincing their voters to spend more on defence. But he said the need was pressing. 'I do hope there is the understanding in Madrid that this is a critical time for the Alliance, both when it comes to (increasing) its defence capabilities, but also to the Trans-Atlantic relationship,' he said in an interview in Riga. 'I think that they don't have much of a choice,' he added. At an estimated 1.28% of GDP, Spain had the lowest proportion of expenditure on defence in the alliance last year, according to NATO estimates. Latvia and fellow Baltic states Lithuania and Estonia are urgently ramping up their militaries, fearing that their neighbour and former overlord Russia could push on from its 2022 invasion of Ukraine to take more territory. They spent more than 3% of GDP on defence this year, and have committed to top 5% for the next few years. "We are saying that we need to spend as soon as possible now in order to avoid a worst-case scenario, spending much more later," Rinkevics said. "While Russia is stuck in Ukraine, that possibility of a direct military attack is not very high," he said. "But it may change very, very quickly ... if a development in Ukraine leads Russian leadership to believe that NATO is weak, that Ukraine is defeated, that NATO is divided". REUTERS Join ST's Telegram channel and get the latest breaking news delivered to you.
Hindustan Times
20-06-2025
- Business
- Hindustan Times
Latvian president believes NATO will overcome obstacles, meet 5% goal
By Andrius Sytas Latvian president believes NATO will overcome obstacles, meet 5% goal RIGA, - Latvia's president expressed confidence NATO would agree to a new higher defence spending target demanded by U.S. President Donald Trump, despite Spanish objections, saying the alliance had little choice given the growing threat from Russia. Spain on Thursday asked to opt out of the plan to increase members' defence spending to 5% of their gross domestic product, as requested by Trump, a move which could derail next week's NATO summit at the Hague. Any agreement to raise defence spending needs unanimous approval by the 32 member states. Latvian President Edgars Rinkevics told Reuters on Friday he understood why countries further from Russia might have difficulties convincing their voters to spend more on defence. But he said the need was pressing. 'I do hope there is the understanding in Madrid that this is a critical time for the Alliance, both when it comes to its defence capabilities, but also to the Trans-Atlantic relationship,' he said in an interview in Riga. 'I think that they don't have much of a choice,' he added. At an estimated 1.28% of GDP, Spain had the lowest proportion of expenditure on defence in the alliance last year, according to NATO estimates. Latvia and fellow Baltic states Lithuania and Estonia are urgently ramping up their militaries, fearing that their neighbour and former overlord Russia could push on from its 2022 invasion of Ukraine to take more territory. They spent more than 3% of GDP on defence this year, and have committed to top 5% for the next few years. "We are saying that we need to spend as soon as possible now in order to avoid a worst-case scenario, spending much more later," Rinkevics said. "While Russia is stuck in Ukraine, that possibility of a direct military attack is not very high," he said. "But it may change very, very quickly ... if a development in Ukraine leads Russian leadership to believe that NATO is weak, that Ukraine is defeated, that NATO is divided". This article was generated from an automated news agency feed without modifications to text.
