New world order: Ocean rates up 88% as shippers pounce on lower tariffs
It took one week for the frenzy to set in on the eastbound trans-Pacific.
Mid-high average spot rates paid by shippers in the 75th percentile of the market for transit from the Far East to the U.S. East Coast have surged by an astonishing 88% since May 3, according to analyst Xeneta, now standing at $6,100 per forty-foot equivalent unit. This price jump reflects the willingness of shippers to incur higher costs to ensure the movement of goods, driven by the temporary window created by the U.S.-China reciprocal tariff pause.
New world order: Ocean rates up 88% as shippers pounce on lower tariffs – FreightWaves