Shipping container rates between East Asia, especially from China, and the United States have risen slightly this week. This increase is attributed to the implementation of US tariffs and a tightening of shipping capacity. According to supply chain analysts Drewry, global average rates rose by approximately 3% during the same period. Specific routes reflect these changes, with container rates from Shanghai to Los Angeles climbing by 3% and rates from Shanghai to New York increasing by 2%.
Drewry predicts that rates will continue to rise in the upcoming weeks as tariffs remain in place and capacity remains constrained. Freight marketplace provider Freightos reported similar trends, with Asia-US West Coast rates up by 3% and Asia-US East Coast rates increasing by 5%. Judah Levine, the head of research at Freightos, noted that many shippers acted quickly to load goods before tariffs took effect, but there are concerns about potential delays at US customs for incoming shipments. Levine anticipates a decline in demand as shippers pause deliveries to assess the evolving situation.
The ongoing trade war between the US and China has complicated global maritime supply chains, according to Peter Sand, chief analyst at Xeneta. He emphasized that shippers are closely monitoring freight costs, particularly in significant trade relationships like that with Japan, which could exert upward pressure on rates. In terms of liquid chemical tanker rates, ICIS reported stability this week, despite downward trends in some trade lanes. Limited cargo activity has softened spot rates, but strong demand for methanol continues, particularly to Asia.
Additionally, cargo inquiries for caustic soda, methanol, and other chemicals have emerged, maintaining steady rates. Analysts have noted a decline in bunker fuel prices, contributing to the overall market dynamics.