Focus on container shipping freight rates for imports to the US East and West from China this morning. Comments below.
Up by 9% ($322/FEU) and 16% ($383/FEU) respectively, Xeneta data shows.
In Xeneta’s Weekly ocean container shipping market update on 28 March https://www.xeneta.com/news/xeneta-weekly-ocean-container-shipping-market-update-28.03.25,
I commented on the situation like this:
“We live in a volatile market so, while the general direction of travel has been downward for spot rates from the Far East to US since 1 January, we should expect some bumps in the road.
“Carriers will chance their arm and push GRIs during times of heightened uncertainty. Nervousness in the market means they can have some success too, even if it seems to defy the underlying balance of supply and demand.
“The ongoing public hearing into proposals for fees on Chinese vessels and carriers entering US ports, as well as Trump’s wider tariff threats, have allowed carriers to tap into shippers’ fears of another period of supply chain disruption.
“However, the rate increases on 1 April will fall way short of carriers’ GRI expectations, which suggests they will be short-lived and markets will continue to soften.”
