Local freight forwarders have reported rate increases in the range of $300 to $500 per FEU month on month and expect further slight gains if the pace of demand remains steady.
The Asian Development Bank also warned in a note Wednesday that escalating tariffs and further trade friction would further dim intra-Asia growth prospects.
In the wake of several paper mill closures globally so far this year, US pulp importers will be dealt another blow on Aug. 1 when a proposed 50% tariff on cargo from Brazil will go into effect.
