Trans-Pacific Container Shipping Rates Surge at Start of 2025
Jan 10, 2025

Trans-Pacific Container Shipping Rates Surge at Start of 2025

As 2025 commenced, container shipping rates on trans-Pacific routes to the United States experienced a significant surge, attributed to pre-Lunar New Year demand by shippers. A detailed analysis by Judah Levine, head of research at Freightos, revealed that trans-Pacific container rates sharply increased at the start of the year, buoyed by general rate increases. Source.

According to the Freightos Baltic Index, Asia-U.S. West Coast rates increased 23% to $5,929 per forty-foot equivalent unit (FEU) by January 3. Similarly, Asia-U.S. East Coast rates rose 13% to $6,934 per FEU. This surge comes despite the ongoing labor disputes on the U.S. East Coast, where a tentative contract deal has been reached covering 25,000 dockworkers across 14 ports and maritime centers, as per IndexBox data.

Levine highlighted that West Coast prices surpassed last year's Lunar New Year peak by 20%, and East Coast rates were 3% higher. Notably, container volumes have been robust due to anticipated tariff hikes, although the feasibility of an additional rate increase mid-month remains uncertain given the proximity to the holiday period. Factories across Asia are scheduled to shut down for several weeks to celebrate Lunar New Year, starting January 29.

Shipping rates from Asia to Europe and the Mediterranean have also experienced moderate increases after earlier spikes. Asia-North Europe prices climbed 8% to $5,558 per FEU, while Asia-Mediterranean rates increased by 3% to $5,630. The ongoing pre-holiday rush, compounded by adverse weather conditions, is contributing to congestion and equipment shortages in key Asian ports, with Shanghai, Qingdao, and Ningbo facing delays up to four days. European ports, including Hamburg and Rotterdam, are similarly affected by labor shortages and strikes.

Levine predicts that as seasonal demand eases later in February and March, rates from Asia should drop, potentially reverting to the $3,000-$4,000/FEU range seen last March and October. However, trans-Pacific rates may remain elevated due to continued frontloading ahead of expected tariffs.

Source: IndexBox Market Intelligence Platform

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  3. 3. MARKET OVERVIEW

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    9. Exports, In Physical Terms, By Country, 2012–2024
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  13. LIST OF FIGURES

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    10. Production Volume And Growth
    11. Exports And Growth
    12. Export Prices And Growth
    13. Market Size And Growth
    14. Per Capita Consumption
    15. Imports And Growth
    16. Import Prices
    17. Production, In Physical Terms, 2012–2024
    18. Production, In Value Terms, 2012–2024
    19. Production, By Country, 2024
    20. Production, In Physical Terms, By Country, 2012–2024
    21. Imports, In Physical Terms, 2012–2024
    22. Imports, In Value Terms, 2012–2024
    23. Imports, In Physical Terms, By Country, 2024
    24. Imports, In Physical Terms, By Country, 2012–2024
    25. Imports, In Value Terms, By Country, 2012–2024
    26. Import Prices, By Country, 2012–2024
    27. Exports, In Physical Terms, 2012–2024
    28. Exports, In Value Terms, 2012–2024
    29. Exports, In Physical Terms, By Country, 2024
    30. Exports, In Physical Terms, By Country, 2012–2024
    31. Exports, In Value Terms, By Country, 2012–2024
    32. Export Prices, 2012–2024

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