Surge in Asia-US container rates continues, tanker rates fall as Strait of Hormuz transits rise in International Shipping News 29/06/2026 Rates for shipping containers from east Asia and China to the US continued to surge as importers pull volumes forward ahead of possible new tariffs, while liquid tanker rates continued to soften amid a tentative ceasefire in the Middle East. STRAIT OF HORMUZ UPDATE The flow of vessels through the Strait of Hormuz increased this week amid a six-day ceasefire between the US and Iran, but the 8,500 TEU (20-foot equivalent unit) Ever Lovely was hit by a projectile on 25 June, leading the International Maritime Organization (IMO) to pause its evacuation process. Lars Jensen, president of consultancy firm Vespucci Maritime, said Iran has presently not claimed responsibility for the attack and that a US official has placed the blame on Iran. According to the Strait of Hormuz tracker, a free, real-time dashboard that tracks the ongoing crisis using AI-powered analysis of current Strait conditions, insurance markets and diplomatic developments using real-time web data and AIS data for vessel positions, 12 vessels have transited the Strait over the past 24 hours. US President Donald Trump accused Iran of the attack in a social media post and declared it a violation of the agreement. Iranian state news agencies reported that three foreign tankers attempting to make an unauthorized passage through the strait were turned back after a warning from its military. Iran’s Deputy Foreign Minister Kazem Gharibabadi also warned in a social media post that Tehran will reject any parallel shipping routes or maritime decision-making that bypasses its authority as a key coastal state. SPIKING CONATINER RATES Transpacific container rates spiked again this week, with rates ranging from $5,200-6,200/FEU (40-foot equivalent unit) to the West Coast and from $6,300-7,500/FEU to the East Coast. Rates from supply chain advisors Drewry were up by 12% from Shanghai