Trump tariff fears plague ocean container rates

Trans-Pacific ocean container rates have eased post-Lunar New Year, despite volumes estimated to be significantly stronger than a year ago.

The latest Freightos Baltic Index pegs rates to the West Coast of around $2,200 per forty-foot equivalent unit and to the East Coast of approximately $3,300 per FEU, more than 20% below 2024 lows.

This trend is likely due to increased competition and less effective capacity management from new carrier alliance rollouts, as well as continued fleet growth, said Judah Levine, Freightos head of research, in a release.

Asia-Mediterranean rates of around $3,500 per FEU are about 20% lower than post-Lunar New Year 2024, while Asia-Europe rates of $2,565 per FEU) are 20% below the 2024 floor despite ongoing port congestion at European hubs. Without tariff frontloading as a factor, easing demand and new carrier alliances are pushing rates down on these lanes, Levine said.