Trans-Pacific container shipping rates continue to decline sharply as U.S.โChina trade tensions escalate into a new โtariff war at sea.โ
๐ Freightos Baltic Index (FBX) โ Latest Updates:
โข Asia โ U.S. West Coast (FBX01): โ USD 1,431/FEU (-8%)
โข Asia โ U.S. East Coast (FBX03): โ USD 3,015/FEU (-8%)
โข Asia โ North Europe (FBX11): โ USD 1,740โ1,760/FEU (-9%)
โข Asia โ Mediterranean (FBX13): โ USD 2,100โ2,150/FEU (-4%)
๐ฆ Key Drivers:
โข On October 14, the U.S. imposed a new port fee (~USD 50/NT) on Chinese vessels. China immediately retaliated with a tonnage tax on ships carrying U.S. ownership or flags (โฅ 25%).
โข Major carriers, including Maersk, have adjusted servicesโsome U.S.-owned ships are now rerouted to South Korea.
โข The container market faces persistent overcapacity amid weak U.S. import demand, currently at its lowest since mid-2023.
โข New ship deliveries and the resumed Red Sea passage following the IsraelโHamas ceasefire are adding further downward pressure on rates.
๐ฌ Freightos Insight:
โBlank sailings and surcharge increases have not been enough to halt the drop. Oversupply and soft demand will continue to weigh on freight rates through the year end.โ
๐ก For shippers and exporters:
Closely monitor freight rate trends and U.S.โChina trade policy shifts. Adjust your routes, booking windows, and cost planning proactively to mitigate schedule and budget risks.
๐ For more market updates and freight solutions:
Coolie Logistics Co., Ltd
โ๏ธ Email: sales@coolie.vn
๐ Vietnam | Trusted partner for global sea freight