Chem tanker rates ex-USG surge on Middle East conflict; Asia-US container rates edge higher in International Shipping News 23/03/2026 Spot rates for US chemical tankers ex-US Gulf surged this week as the conflict in the Middle East has tightened chemical supply in Europe and has caused a shortage of space in the US Gulf-to-Europe trade lane, while Asia-US container rates edged higher as the conflicts impact on container shipping is a rapidly evolving situation and uncertainty remains massive. CHEM TANKER RATES SOAR The US chemical tanker market rose again for another week as most trade lanes have pushed higher, amid the ongoing tight tonnage situation which has caused rates to soar. For the US Gulf to South America trade lane, rates are steady as traders are seeking space for Brazil and focused on COA (contract of affreightment) deals. However, higher freight prices seem to be contributing to the softening of spot transactions as many deals fell through due to the higher rates. On the USG to ARA trade lane, the market was active this week as the ongoing tight tonnage situation for March/April is causing freight rates to surge, especially for smaller parcels. The market has seen a wide variety of inquiries such as methanol, glycols, styrene, base oils and various chemicals round out the demand leading to higher rates, but only a handful of cargoes are known to be fixed. For the USG to Asia, space also remains extremely tight as most owners are opting to maximize COA volumes. As a result, spot rates are pressured higher as they are supported by limited availability. Demand seems to be firming due to production issues across the Asian sector as several producers have declared force majeure due to limited feedstocks. It seems that MEG, methanol and ethanol have been the most frequently seen quoted in the market. The USG to India route has been relatively quiet as most of the cargoes seem to be shipping under COAs. Like the other routes, any of the regular owners who have any available space are offering unattractive rates, making it impossible for charterers. However, one large parcel of MEG was reported to be fixed from the USG to the region for April loading. Bunker prices ex-USG were higher once again, trending upward along with stronger energy prices. CONTAINER RATES Rates for shipping containers from east Asia and China to the US were mostly higher this week, with gains in the mid-single digits percentage. Rates from supply chain advisors Drewry rose by 4% from Shanghai to Los Angeles, and by 7% from Shanghai to New York. Drewry said it expects rates to be pressured higher amid the current geopolitical crisis. Rates from online freight shipping marketplace and platform provider Freightos rose by 1% to the West Coast and by 9% to the East Coast. Judah Levine, head of research at Freightos, said operational disruptions continue to be limited to Middle East-bound or originating cargo, with some knock-on congestion elsewhere. “As in previous disruptions like the Red Sea closure, carriers are now adjusting to the new reality and freight is finding its way,” Levine said. Levine noted that some major carriers like CMA CGM and Maersk are now accepting new bookings by diverting volumes to alternative accessible ports in the region – including ports in Oman, UAE, and Saudi Arabia – with containers moving on by land bridge. “Carriers are also relying heavily on ports in India with new shuttle services ferrying containers to those accessible Midea