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Freight rates skyrocket! Rise by 31% in a week, and continue to rise in the future! | Marine export logistics
May 19,2025
U.S. importers are seizing the window during which tariffs are suspended to speed up imports from China, a move that has breathed new life into global shipping markets. Spot container freight prices have risen sharply on the Pacific routes, showing a strong rebound in demand in the market.
According to the latest World Container Index (WCI) released by Drewry, freight rates on the Shanghai-Los Angeles route soared 16% in a week to $3,136 per 40 feet; Fares on the Shanghai-New York route jumped 19 per cent to $4,350 per 40 feet.
The Shanghai Container Freight Index also reflected expectations for continued increases in freight prices next week: freight prices to the west coast of Shanghai jumped 31 per cent week-on-week and to the east coast of the US rose 22 per cent week on week.
Drewry expects spot prices on Pacific routes to continue to climb over the next week because of tight capacity. Meanwhile, the sudden busyness of the trans-Pacific routes has not had a knock-on effect on Asia-Europe trade, with freight prices in the region still weak.
Rates from Shanghai to Rotterdam and Shanghai to Genoa fell 1 percent to close at $2,035 and $2,742 per 40 feet, respectively, according to WCI.
In the face of market changes, major shipping companies have adjusted their strategies.Mediterranean Shipping launches a full-fledged freight rate of $3,100 for a 40-foot container on the Asia to Northern Europe route; Yangming Shipping reported full-fledged shipping costs of $3,200 for a 40-foot container to northern Europe and $5,000 to the Mediterranean.
Analysts have differing views on the outlook for the market. Citigroup-Inc's Kaseedit-Choonnawat pointed out that with the end of the 90-day tariff reduction period between the United States and the United States and the peak season of the industry, the import rush of Chinese goods could lead to port congestion and supply chain bottlenecks.
According to Kepler-Cheuvreux's Axel-Styrman, the current tariff rebound is likely to be short-lived, with a weak rate outlook for the second half of the year and a significant downward revision in demand.
Deutsche Bank's Andy-Chu said a rebound in demand on trade routes with China could push rates higher in the short term, despite the industry's long-term challenge of oversupply.
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