» US tariff turmoil is continuing to muddy the outlook on trade volumes from China to the US as shippers try to hedge the impact on imports of tariff hikes – assuming they happen.  This week Mr. Trump postponed tariffs on goods from Mexico that fall under the USMCA trade agreement.  Demand is slowly improving but hasn’t yet reached pre-CNY levels, while capacity has returned and stabilized to over 90%.

» Asia – Europe rates post-LNY are back to the lows seen last year and carriers are reducing capacity to counter falling prices though March GRIs have been ineffective so far, per Freightos.

» The US is considering charging port fees to Chinese-made ships claiming that for decades China has engaged in unfair shipbuilding and global maritime trade based on an investigation that began in 2024 under the Biden administration.  

» Analysts predict that higher tariffs could decrease shipping volumes by 1.5% to 2%, while the resumption of Red Sea routes may lead to a 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.

» Trans-Pacific container lines aim to increase contract rates by 20–30% for the 2025–26 shipping season, proposing $2,000 per FEU for West Coast and $3,000 for East Coast shipments. Despite declining spot prices, importers prioritize securing vessel space with long-term contracts over price negotiations, per UPS.

» Demand on Asia to North America is slowly improving but hasn’t yet reached pre-CNY levels, while capacity has returned and stabilized to over 90%, with space available at all gateways. It’s expected that shipping volumes may shift from China to Southeast Asia, per Flexport.