Pacific rates soar (LA +10%, NY +8%) on US tariff hikes/cancellations. Europe routes drop (Rotterdam -3%). More volatility seen.

Global container shipping markets witnessed sharply contrasting fortunes in early April 2025, with freight rates surging on Transpacific routes while continuing to fall on major Europe-related trade lanes.

Industry analysts point to the confirmation of higher US import tariffs on April 2nd, coupled with several cancelled sailings, as the primary drivers behind the sudden spike in rates from China to the United States.

According to the latest World Container Index published by Drewry on April 3rd:

• China-Europe Declines: The spot rate for a 40-foot container (FEU) from Shanghai to Rotterdam fell 3% week-on-week to $2,304 (-25% year-on-year). Rates from Shanghai to Genoa dropped 4% to $3,031 (-16% year-on-year). The return leg from Rotterdam to Shanghai saw a 7% dip to $466 per FEU.
• Transatlantic Slips: Rates between Rotterdam and New York decreased by 2% in both directions, hitting $2,145 westbound and $831 eastbound.
• Pacific Surge: In stark contrast, the Shanghai to Los Angeles rate jumped 10% in one week to $2,726 per FEU (though still down 26% year-on-year). The Shanghai to New York rate climbed 8% to $3,894 (down 20% year-on-year).
• Reverse Pacific Stagnant: The Los Angeles to Shanghai route remained weak, slipping 1% to $705 per FEU.

Drewry anticipates that the new US tariffs will inject heightened volatility into freight rates moving forward.

Source: Drewry Supply Chain Advisors