Logistics | Feb 12, 2025 – Page 4

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LOGISTICS | Feb 12, 2025

Ocean Rates Finally Show Steady Retreat from 2024 Highs

Ocean container rates from Asia to Europe continued to slide last week and at $3,386/FEU are 40% lower than in early January during the lead up to Lunar New Year, per Freightos data.
The Trump administration has temporarily reinstated the de minimis exemption for parcels from China. The exemption allows parcels valued below $800 to enter the US duty-free. This is supporting air cargo rates, per Freightos Air Index.
HSBC forecasts that Suez Canal transits may not return to normal until mid-2025, introducing further volatility as carriers struggle to fill capacity amid declining demand.
The Suez Canal Authority (SCA) has requested the major shipping lines to resume their routes via the Suez as the region returns to a stability. Major carriers are taking a ‘wait and see’ approach and will continue to go around Africa – for now.
The “China-Europe Express,” a direct sea route connecting Ningbo, China, and Wilhelmshaven, Germany, now offers point-to-point service without intermediate stops, cutting shipping time from 45 to 26 days, per UPS