The recent changes in global trade patterns, influenced by tariffs, are having a significant impact on ocean freight rates, particularly regarding container imports to the US West Coast. A closer look at average spot rates reveals a notable shift in costs between China and other Southeast Asian countries. As of March 16, 2025, importing a 40-foot container (FEU) from China cost USD 2,457, while the rate from Vietnam was slightly lower at USD 2,362.
However, by April 25, 2025, the dynamics had shifted. Importing from China increased to USD 2,709 per FEU, but the cost from Vietnam rose to USD 2,774, making Vietnam the more expensive option for shippers at that point. In a comparison between China and Southeast Asia, the trends mirror those of the China-Vietnam trade.
On March 31, 2025, the average spot rate from China was USD 2,457 per FEU, while Southeast Asia was just slightly higher at USD 2,464. By late April, China’s rate rose to USD 2,709 per FEU, but Southeast Asia saw a steeper increase to USD 2,890. This change resulted in a widening spread of USD 181 per FEU, again indicating that Southeast Asia is now costing shippers more.
According to Peter Sand, Chief Analyst at Xeneta, the observable shifts arise as falling demand from China coincides with an influx of shipments from Vietnam, which currently enjoys a moratorium on reciprocal tariffs. He emphasizes that this evolving landscape hints at how tariffs can significantly alter global trade practices. Notably, just before the “Liberation Day” announcement, importing from China and Southeast Asia had nearly identical costs, and now that spread has approached USD 200, primarily due to shippers adjusting strategies in response to the tariff situation.