SHANGHAI SPOT BOX RATES TO US WEST COAST LEAP 31% IN JUST ONE WEEK

Container freight rates from Shanghai to the U.S. have surged as shippers rush to take advantage of a 90-day tariff suspension, raising concerns about capacity shortages and supply chain congestion.

 

 

Shanghai port

 

A weekly freight rate report released Friday by the Shanghai Shipping Exchange has shed new light on the mounting frenzy gripping the trans-Pacific trade.

 

Container shipping rates from China to the U.S. West Coast soared by 31% in just one week, while rates to the East Coast jumped 22%, as shippers rushed to take advantage of a 90-day “cooling-off” period in the ongoing tariff war between the world’s two largest economies.

 

The Drewry World Container Index, published Thursday, also reflected a sharp uptick in prices. Rates from Shanghai to New York surged 19%—a $704 increase—reaching $4,350 per 40-foot container (FEU). Meanwhile, rates from Shanghai to Los Angeles climbed 16% ($423), hitting $3,136 per FEU.

 

“In light of recent developments in the U.S.–China trade tensions, Drewry expects trans-Pacific freight rates to continue rising next week due to capacity shortages,” the consultancy noted.

 

As of Wednesday, exports from China to the U.S. are subject to a 30% tariff—down significantly from the peak 145% rate imposed over the past six weeks. The two countries announced the sudden tariff rollback on Monday, triggering a 90-day reprieve that has sent shippers scrambling to move goods before levies potentially return.

 

“While we expect carriers to restore capacity and deploy larger vessels on the trans-Pacific route, rebalancing container and ship availability following such deep capacity cuts may take time,” HSBC wrote in a newly published industry report. The bank also warned of potential port congestion and inland supply chain disruptions—scenarios reminiscent of COVID-era logistical breakdowns.

 

HSBC further noted that scheduled rate hikes set for mid-May and early June are likely to hold, adding that global container shipping stocks have now surpassed pre-Liberation Day levels, reflecting a wave of renewed optimism in the market outlook.

 

Source: Splash

 

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