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The ocean freight rate for the U.S. market plummeted by 63% in a month | Ocean Freight Export Logistics

Jul 07,2025

According to the latest Shanghai Export Container Comprehensive Freight Index released by the Shanghai Shipping Exchange, the freight rates from China to the West Coast and East Coast of the United States have dropped significantly.

As of July 4, the export freight rate (by sea and ocean freight surcharges) from Shanghai Port to the West Coast basic port market was $2,089/FEU, down 19.0% from the previous period; the export freight rate to the East Coast basic port market was $4,124/FEU, down 12.6% from the previous period. Compared with the peak freight rate on June 6, these rates have plummeted by 63% and 41%, respectively.

According to a report in Ming Pao, a logistics industry insider stated that there have been significant fluctuations in shipping prices between China and the United States recently. Following the 90-day truce in the tariff war between China and the United States, which began on May 14, the volume of cargo transported from China to the United States surged, leading to a temporary shortage of shipping capacity and subsequently higher freight rates.

However, since the second week of last month, freight rates have been declining continuously, and have now dropped to levels lower than those before the truce. The main reason for this is that while the capacity of cargo ships has returned to normal, the volume of goods being exported has decreased, resulting in a situation where there is “nothing to transport”.

In addition, this person also pointed out that the current market situation is chaotic, and preliminary analysis suggests that this might be due to a large number of shipments in May, resulting in high inventory levels in the United States, as well as the fact that the 90-day suspension period for the reciprocal tariffs imposed by the United States on various countries will end on July 9, causing all parties involved in trade to adopt a wait-and-see attitude.

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