Data highlights

• Market average spot rates – 19 June 2025:
  • Far East to US West Coast: USD 4755 per FEU (40ft container)
  • Far East to US East Coast: USD 7003 per FEU
  • Far East to North Europe: USD 2815 per FEU
  • Far East to Mediterranean: USD 4524 per FEU
  • North Europe to US East Coast: USD 2100 per FEU
• Market mid-high spot rates – 19 June 2025:
  • Far East to US West Coast: USD 5412 per FEU
  • Far East to US East Coast: USD 7283 per FEU
  • Far East to North Europe: USD 3160 per FEU
  • Far East to Mediterranean: USD 4829 per FEU
  • North Europe to US East Coast: USD 2379 per FEU

    Note: The Xeneta mid-high is the spot rates paid by shippers in the 75^th percentile of the market with Xeneta mid-low being the spot rates paid by shippers in the 25^th percentile of the market.

• Market mid-low on the Transpacific trade from Far East to US West Coast has fallen 33% since 9 June to USD 3600 per FEU. This leaves the spread between the mid-high and mid-low on this trade at USD 1912 per FEU, up from USD 611 per FEU only 10 days ago.
• The drop in market mid-low on the Transpacific shows better-positioned shippers are now pushing back on the General Rate Increase (GRI) or Peak Season Surcharge (PSS) that were ‘successfully’ pushed by numerous carriers in the first week of June.
• Falling mid-low shows capacity is now returning to the Transpacific trade to meet demand from frontloading following lowering of US-China tariffs. Capacity will continue to increase in the next six weeks.
• Market average spot rates are up 45% from Far East to Mediterranean compared to a month ago to stand at USD 4524 per FEU.
• Market average has inched down 1% on the trade from North Europe to US East Coast from a week ago to stand at USD 2100 per FEU. A trade impacted by ample capacity and no demand growth.
• Average spot rates from Shanghai to Jebel Ali – the Arabian Gulf’s largest port – have increased 55% compared to one month ago (prior to escalation in conflict between Israel and Iran) to stand at USD 2761 per FEU.

Xeneta analyst insight – Transpacific

Peter Sand, Xeneta Chief Analyst:

“The market mid-low on the Transpacific trade has dropped 33% since 9 June, meaning some of the more powerful shippers are now pushing back on the higher rates they were more willing to pay in the immediate aftermath of the lowering of US-China tariffs.

“Spot rates have peaked, but we could see fluctuations between now and the end of the 90-day lowering of tariffs on US imports from China on 13 August and the rest of the world on 9 July. Until that point, spot rates should remain above the levels seen in May prior to ‘Liberation Day’.

“Looking further ahead, demand is expected to drop significantly, even if lower tariffs continue after the 90-day pause. Shippers have been frontloading imports throughout 2024 and early 2025 so inventories will be brimming once the current cargo rush is over.

“As demand eases and capacity continues to return to US trades, it will not just be the more powerful shippers pushing back on higher rates or peak season surcharges, it will be across the market. We should then see spot rates falling back to the levels seen in Q1.”

Xeneta analyst insight – Middle East

Peter Sand, Xeneta Chief Analyst:

“Conflict in the Middle East has seen elevated risk and associated operational costs for ocean container shipping trades transiting the Arabian Gulf, such as security measures, higher bunker fuel prices and burning more fuel due to faster sailing through high-risk areas.

“This has contributed to a 55% increase in average spot rates on the trade from Shanghai to Jebel Ali – the Arabian Gulf’s largest port – compared to one month ago. Average spot rates now stand at USD 2761.

“We have not yet seen any decisive moves by carriers in announcing immediate changes on services into the Arabian Gulf, but there is clearly a serious risk of further escalation in this conflict and the potential for disruption to supply chains and spike in freight rates.”