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The freight rate "continues to fall" and has fallen below 2,000 US dollars. What are the reasons behind it and what is the turning point?
Mar 10,2025
The global seaborne market is experiencing a "staggering wave," with the Shanghai Export Container Price Index (SCFI) sitting on a slide, declining for the eighth consecutive week, falling to 1,463 points on March 7, a loss of 5.21% in a week.
Behind this, the "combination" of US tariff policy and proposed port fees for Chinese ships has made freight rates on European and US routes miserable.
Looking at the various routes, freight prices from Shanghai to Europe, the Mediterranean, to the West and East of the United States invariably fell, ranging from 2.97% to 12.6%. The Persian Gulf, South America and Australian and New Zealand routes were not spared, except for the Southeast Asian routes that fell slightly. Even on the near-ocean line, the Far East to Japan and South Korea only managed to stabilize their positions and remained the same as the previous period.
In order to stop the decline in freight prices, major shipping alliances have taken steps.
MSC originally prepared for a long time Trans-Pacific Mustang route, first because of Singapore port congestion difficult to give birth, now directly "premature," the ship for other purposes; The Ocean Alliance postponed the departure of the Asia-Europe NEU3 route, and the Premier Alliance also intends to suspend two new trans-Pacific routes. But Linerlytica has poured cold water: these capacity adjustments, palliative measures, tariff downward pressure is still mountain.
On the European route, a desire to increase prices "to relieve the pressure" turned out to be a plunge of $400 per crate this week. The Spanish-American route is even worse, having fallen below the $2,000 mark and struggling between $1,800 and $1,900, which is almost the cost price, and could continue to bottom out in the month.
But there seems to be dawn in the cold winter. Shipping industry insiders revealed that the seaborne market tends to experience a seasonal recovery in the second quarter. Maersk took the lead, announcing a planned price increase on European routes in April, with both 20 and 40 cubic meters of freight rates significantly higher.
Although the current U.S. tariff policy has caused a lot of market wait-and-see sentiment, and in the short term, consumption and economic slowdown will drag down sea transport demand, but if the supply chain is disrupted in the long term and a breakdown crisis emerges, sea transport requirements may instead rise against the trend. Where will maritime freight prices go from here? All parties in the market are waiting to see.
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