After six weeks of steady increases, spot freight rates for container shipping fell by 7% from the previous week to $3279 per FEU.
The drop is mainly due to the low demand for goods from the US. For Drewry it’s a sign that the recent surge in imports into the US, after the temporary suspension of customs duties, will not have the lasting impact that analysts had initially forecasted.
Shanghai – New York rates fell by 10%, to $6584/FEU, although they remain 81% higher than six weeks ago.
Freight rates on the Shanghai – Los Angeles route fell by 20% (+73% compared to May 8th), while on the Shanghai – Rotterdam route rates dropped 12% to 3171/FEU.
On the Shanghai-Genoa route, however, tariffs fell by 1% to €3171/FEU.
Drewry expects the supply-demand balance to weaken again in the second half of 2025, resulting in lower spot rates. The volatility and timing of tariff changes will depend on the outcome of legal actions against Trump’s tariffs and capacity changes related to the introduction of US sanctions on Chinese ships, which are uncertain.
Translation by Giles Foster
