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Container freight rates on the increase as year startsContainer freight rates on the increase as year starts
Spot container rates were on the rise in the final days of 2024 and start of 2025 as a possible US East Coast port strike looms and the threat of tariffs from incoming US President Trump.
1 Min Read
Credit: ONE
The Drewry World Container (WCI) posted on 2 January was up 3% at $3,905 per feu driven by the transpacific trade to both US West and East Coasts from Asia. Meanwhile the Shanghai Containerized Freight Index (SCFI) was up 1.8% on 3 January 2025 over 27 December 2024 at 2,505.7 points.
According to Drewry spot rates from Shanghai to Los Angeles increased 7% or $330 to $4,829 per 40ft container, and Shanghai to New York rose 6% or $371 to $6,445 per feu.
By contrast on the Asia – Europe trade Shanghai to Rotterdam rates were down 1% at $4,774 per feu and rates from Shanghai – Genoa were flat at $5,420 per feu.
Looking ahead Drewry said it, “expects rates on the Transpacific trade to rise in the coming week, driven by front-loading ahead of the looming ILA port strike in January 2025 and the anticipated tariff hikes under the incoming Trump Administration”.
It also coincides with a traditional increase in activity in the weeks ahead of the Lunar New Year at the end of January.
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