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Freight rates fell for ten consecutive days! The four major routes to Europe and the United States continued to fall, and the shipping companies' determination to raise freight rates in April remained unchanged.
Mar 24,2025
Recently, the global shipping market has been riding a roller coaster, with the container price index continuing to play a "heartbeat drama." Ten consecutive weeks of decline have left all four major airlines in a gloomy gloom.
The latest Shanghai Container Export Price Index (SCFI) sparked industry concern on the 21st, with the latest figure of 1,292.75 points down 26.59 points from the previous week. Although the decline narrowed to 2.01% from last week's 8.14%, the market remained cold.
The South American line was a "hit area," with a 13.62% plunge, the US-Spain freight price was even more "painful," and it had fallen below the cost price, and the European line was also struggling on the brink of cost.
The spot market in Europe has taken another turn, with freight prices frequently lowered, once $1,800-1,900 per large box, now many companies have reduced to $1,700, and even a low price of $1,600 has quietly emerged. By contrast, the US $1,600-1,700 per crate price in Mississippi has temporarily stabilized.
According to freight forwarders, as soon as the United States' equivalent tariff plan is announced on April 2, buyers and sellers will begin difficult negotiations on tariff sharing, and orders are expected to be finalized after that. While it is still unclear whether order volumes will shrink significantly, at least there are signs of a pick-up in volumes.
Industry insiders have acutely recognized that the US line is quietly brewing a price increase, but it remains to be seen how much and whether this increase will be realized.
The good news is that the recent decline in freight prices is indeed narrowing, like a light in the darkness, and although the trend is sluggish, there is some signs of stabilization.
At present, when Asian exports to Europe and the United States will recover has become a key "code." The logistics industry boldly predicts that with the steady rise of normal demand, the volume is expected to rebound in April, and prices will gradually return to a stable track. However, external factors remain like a "time bomb."
From time to time, Trump's tariff policy has disrupted the situation, and the future direction of the Russia-Ukraine conflict is still fraught with mystery, which could cause the freight market to "face up" again.
The crisis in the Red Sea region of the Middle East has compounded the situation, with global shipping routes being forced to bypass the Cape of Good Hope and ship movements being confused.
But to put it another way, once the volume of goods picks up, this tension will instead become a "booster" for the increase in freight prices. But the Houthis have added to the chaos by claiming to renew attacks on Israeli-related ships passing through the Red Sea, making it more difficult for shipping companies to return to the Red Sea and adding to the uncertainty in the pricing market.
Despite the challenges, shipping companies remained confident in their North American and European routes in April, raising prices in response to soaring costs and market changes. With the shipper's intention to ship more and more clearly, volume demand is slowly "heating up."
Moreover, because the market was so depressed in February and March, the carriers had already expanded their shift cuts, and now that there are fewer flights and cargo volumes are expected to increase, the airlines are determined to raise prices in April. However, reality has a bit of a "bone" feeling, with the actual transaction price in the first week of April continuing the offers made at the end of March, and the freight price remaining static.
Maersk and other shipping giants line quotes, as well as MSC, ONE and other peer quotes, are still fixed at the end of March. MSC and MSK stick to week 14, ONE to week 15.
The industry speculates that shipping companies are clear about April's North American routes and that the upcoming current freight prices may be a moment of bottoming out. However, whether to successfully counterattack in the end, volume performance is the "key sir," and the changing landscape of this shipping market leaves us to wait for the good news.
See also the shipping rates for specific routes:
Shanghai to Europe $1306 / TEU, down 2.68% week;
Shanghai to the Mediterranean $2195 / TEU, down 4.36%;
Shanghai to the United States West 1872 dollars / FEU, down 4.73% week;
Shanghai to the United States East 2866 US dollars / FEU, down 3.73%;
The price per container on the Persian Gulf route was $1,059, up 8.5% on the week;
The price per container on the South American route (Santos) was $1,860, plunging 13.62%.
The Australian-New Zealand route cost $755 per container, up 2.7 per cent on the week;
The Southeast Asia route (Singapore) cost $446 per box, unchanged.
Near the ocean line, the Far East to Kansai, Japan, the Far East to Southeast Asia, the Far East to South Korea per TEU flat, the Far East to Kanto, Japan per TEU up $2.
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