Data highlights
- Average spot rates from Far East to US West Coast and US East Coast remain flat since mid-April at USD 2790 per FEU (40ft container) and USD 3830 per FEU respectively.
- Average spot rates on the US-bound trades are down 52% into the West Coast and 44% into the East Coast since 1 January.
- Only uptick in rates on these trades in 2025 came on April 1 with an increase of 16% into the US West Coast and 10% into the US East Coast.
- Average spot rates from Far East to North Europe fell 8% on 1 May to stand at USD 2130 per FEU.
- Average spot rates from Far East to North Europe are now at lowest level since 31 December 2023.
- Smaller decline of 1.6% from Far East to Mediterranean to stand at USD 3 155 per FEU.
Xeneta analyst insight – Far East to US
Peter Sand, Xeneta Chief Analyst:
"Carriers reacted to the drop in exports out of China in the immediate aftermath of reciprocal tariff announcements by the US Government at the start of April by increasing blanked sailings – just as they did so successfully in the early months of the Covid-19 pandemic.
"These blanked sailings combined with some indication of demand recovery out of China in the second half of April have been enough to keep spot rates flat on trades from Far East to US.
"Other than an uptick in early April, spot rates had been declining since the start of the year. If higher prices of goods subdues US consumer demand in Q2 and this impacts container shipping volumes out of Asia, carriers will have their work cut out keeping rates elevated. The current flat spot market is probably a fairly brief interlude before the downwards trend continues."
Xeneta analyst insight – Far East to Europe
Peter Sand, Xeneta Chief Analyst:
"Average spot rates from Far East to North Europe have hit the lowest level since the end of December 2023, just as the Red Sea crisis was beginning to take hold of the market. The latest decline of just under 8% on 1 May shows there is a mismatch of capacity and demand on this trade.
"There may be an element of shippers sending goods to Europe rather than the US due to tariffs, but clearly not enough to meet the level of capacity being deployed by carriers. You cannot just decide from one day to the next that all the goods you were going to send to the US will now be sent to Europe and easily find customers for it."
Ends
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