Washington, United States – Industry experts say ocean freight rates between Asia and the United States are expected to decline further in 2025 amid tariff uncertainty.
Shipping companies will be forced to lower their prices due to tariffs and geopolitical tensions that weaken demand for sending goods from Asia to the United States.
Some companies are also redirecting their ships to bypass US ports to avoid tariffs. Analysts expected that this would contribute to providing a minimum level of customs duties and reducing some losses.
Average spot shipping rates for containers from Asia to the western and eastern coasts of the United States have fallen by 58% and 46%, respectively, since June 1, and are expected to fall further, according to shipping analytics firm Xeneta.
Russia-backed Indian oil refiner Nayara Energy has exported its first shipment of gasoline since the European Union imposed sanctions on the company on July 18, according to four shipping sources and London Stock Exchange data.
Shipping sources and data reported that the oil tanker Tempest Dream, carrying about 43,000 metric tons of gasoline, sailed on August 4.
Oil prices saw little change on Tuesday, as traders evaluated OPEC Plus’ increased supplies in contrast to fears of weak demand and Trump’s new threats to India over its purchases of Russian oil.
Brent crude futures fell 1 cent to $68.75 a barrel by 06:31 GMT, while US West Texas Intermediate crude fell 2 years to $66.28. Both contracts had fallen more than 1% in the previous session, hitting a one-week low.
OPEC Plus agreed on Sunday to increase oil production by 547,000 barrels per day for September. This represents a complete and early retreat from the group’s largest batch of production cuts, which amounted to about 2.5 million barrels per day, equivalent to about 2.4% of global demand, although analysts warn that the actual quantity that will return to the market will be less.
Traders are also awaiting any developments regarding the latest US tariffs on its trading partners, which analysts fear will slow economic growth and reduce fuel demand.
The confrontation between the United States and India is likely to worsen.
After imposing 25% tariffs on goods sent by India to America, Trump pledged to increase these tariffs due to India’s purchases of Russian oil, worth $4 trillion. New Delhi describes this threat as unjustified and unreasonable.
It seems possible to reach an agreement with Washington, but calming the situation seems difficult.
Far from being the winner of the US president’s global trade war, India is quickly emerging as a major loser alongside China.
India bonds fall
Indian government bonds fell slightly in early trading on Tuesday, testing a key technical level, while traders await the policy decision to be issued by the Reserve Bank of India on Wednesday.
Some market participants expect the Reserve Bank of India to cut interest rates again after Trump imposed heavy tariffs on goods coming from India.
The yield on standard 10-year bonds was 6.3300%, as of 10:30 a.m. IST (0500 GMT), compared with Monday’s close at 6.3179%.
