Category: General
Country: United Kingdom
By Bobby Dalheim
Senior Editor of Case Goods and Global Sourcing
21st March, 2025.
London – Spot container rates continue to plummet, falling another 9% from Shanghai to Los Angeles this week to $2,658 per 40-foot container. They’ve now fallen 55% in the past six weeks.
Rates from Shanghai to New York dropped, too, according to rate tracker Drewry, falling 6% to $3,774. Rates on this route have fallen 47% in the same period.
The average rate across all trade routes fell 4% to $2,264, the lowest number recorded since January of 2024. Rates are still 59% higher though than the pre-pandemic 2019 average of $1,420.
“Ocean carriers have not controlled capacity by blanking sailings as aggressively as they otherwise would,” wrote Rachel Shames, vice president of pricing and procurement for customs broker CV International, in a blog post. “This can be mostly attributed to a desire to have a smooth rollout of the new alliances and service strings, as well as an effort for the new alliances to maintain market share.
“Increasing tariffs and uncertainty are certainly a factor in the slower market,” she continued. “Spot rates on Transpacific Eastbound lanes have fallen to levels not seen since early in the Red Sea crisis. Outlooks are murky. Blank sailings are increasing for April, but whether it will be enough to drive rates up is unclear.”
Courtesy: hometextilestoday.com
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