Carriers are expected to take a ‘wait and see’ approach to the Israel-Gaza ceasefire before returning to routing ships via the Red Sea. There remains a high level of uncertainty around the success of the next, more challenging, phases of the ceasefire.   

Ex-Asia rates are easing as the lead up to Lunar New Year has ended. As the new alliances prepare to launch, some of the rate decrease may also be due to some increased competition between carriers, per Freightos.

Shipping lines have reduced short-term rates to both coasts to stimulate demand ahead of Lunar New Year.  Carriers have planned 11% blank sailings during the CNY period, aligning with network adjustments, per Flexport.

Air cargo rates, even post-peak season, remain highly elevated at more than $5.00/kg from China to North America, and more than $3.00/kg to Europe driven by relentless e-commerce demand, per Freightos.

Combined air cargo rates began 2025 at $2.65 per kilo, up +13% from a year ago, per Flexport.