▪ Ocean prices for Asia – Europe trade fell below last year’s low in recent weeks, while Asia – Mediterranean rates were level with last year, per Freightos.

▪ On Asia – N. America routes, the drop in floating market rates and ample capacity, resulted in the Peak Season Surcharge (PSS) being reduced for March, per Flexport. 

▪ The resumption of Red Sea shipping routes is likely to lead to 6% reduction in demand. Coupled with ongoing fleet expansion, these factors are expected to exert significant downward pressure on spot rates, potentially resulting in a 30% to 40% decline compared to 2024 levels, per UPS.

▪ As the deadline for the US to eliminate the de minimis exemption for Chinese imports, there is a growing consensus among shipping and logistics experts that the Trump Administration that US Customs and Border Protection (CBP) will not be ready even to contemplate collecting tariffs on low-value packages until this summer, but others suggest it will never be ready, per Bloomberg Intelligence.