Following recent adjustments to US-China tariff policies, American buyers are accelerating their inventory stocking, leading to a significant increase in demand for US-bound ocean shipping. A representative from Shenzhen Yantian Port, which handles over a quarter of China's total exports to the US, stated that the traditional peak shipping season, usually from July to September, has advanced this year to June and July.
A cargo distribution warehouse near Yantian Port reports a surge in inbound cargo volume exceeding 60%. The number of container shipments handled has risen from over 120 to more than 200 during this period.
This surge in US-bound shipments has prompted many shipping lines to reallocate capacity from other routes to the US trade lane, resulting in rising freight rates across various major shipping routes. Leading carriers including Mediterranean Shipping Company (MSC), Maersk (MSK), CMA CGM, and Hapag-Lloyd (HPL) have successively announced freight rate adjustment plans for June, impacting popular routes such as South America, Europe-Mediterranean, Middle East, and Africa.
Mediterranean Shipping Company (MSC) has issued a notification announcing new freight rates from all Far East ports (including but not limited to Japan, Korea, and Southeast Asian ports) to all North European, Mediterranean (including West Mediterranean, East Mediterranean, Adriatic, and North Africa) and Black Sea ports. These new rates are effective from June 1, 2025, until further notice, but not later than June 14, 2025.
Mediterranean Shipping Company (MSC) has announced a Peak Season Surcharge (PSS) for all cargo, including reefer and special equipment, moving from Far East ports to the Mediterranean (including Adriatic Sea), Black Sea, and North Africa.
This PSS will be effective from June 7, 2025 (estimated departure date), and will remain in place until further notice.
Mediterranean Shipping Company (MSC) has announced new freight rates applicable to shipments from all Far East ports (including but not limited to Japan, Korea, and Southeast Asian ports) to all Sub-Saharan Africa and Indian Ocean ports.
These new rates are effective from June 1, 2025, and will remain in effect until further notice, but not beyond June 14, 2025.
Maersk (MSK) has announced the implementation of a Peak Season Surcharge (PSS) for cargo originating from Far East ports and destined for Central America and the Caribbean / West Coast South America.
This PSS will be effective from June 6, 2025 (with the exception of Cuba, where it will apply from June 21, 2025).
Maersk (MSK) has announced the imposition of a Peak Season Surcharge (PSS) for shipments originating from China, Hong Kong (China), and Macao (China), destined for Argentina, Brazil, Paraguay, and Uruguay.
This PSS will be effective starting June 6, 2025.
Maersk (MSK) has announced adjustments to its Peak Season Surcharge (PSS) for shipments originating from China and Hong Kong, destined for the United Arab Emirates, Bahrain, Iraq, Jordan, Kuwait, Oman, Qatar, and Saudi Arabia.
These adjustments will be effective from June 5, 2025.
Maersk (MSK) has announced the implementation of a Heavy Surcharge for shipments originating from the Far East and destined for West Coast South America, Central America, and the Caribbean region.
This Heavy Surcharge will be effective from June 5, 2025.
CMA CGM has announced the implementation of a Peak Season Surcharge (PSS) applicable to all cargo shipped from the Far East to West Africa.
This PSS will be effective from June 1, 2025, and will remain in effect until further notice.
CMA CGM has announced the application of new FAK (Freight All Kinds) rates for shipments from Asia to North Europe.
These new FAK rates will be effective from June 1, 2025, and will remain in effect until further notice, but not beyond June 15, 2025.
Hapag-Lloyd (HPL) has issued an advisory announcing the implementation of a Peak Season Surcharge (PSS). This surcharge will apply to all container types shipped from Asia and Oceania to South West Africa, Central West Africa, and North West Africa.
The PSS will be effective for all shipments with a loading date of June 6, 2025, and will remain in place until further notice.
In addition to the previously mentioned carriers, Matson (MATSON), Ocean Network Express (ONE), and Evergreen Marine (EMC) are among other shipping lines that have announced freight rate increases. Projections indicate that US West Coast (USWC) shipping costs could reach $6,000/FEU (40-foot equivalent unit), while US East Coast (USEC) rates may hit $7,000/FEU, effectively doubling since earlier this year.
The latest data from the Shanghai Containerized Freight Index (SCFI) reveals a comprehensive freight index of 1586.12 points, marking a 7.21% increase from the previous period. Specifically, Shanghai to US West Coast (USWC) rates are at $3,275/FEU, up 5.95%, and Shanghai to US East Coast (USEC) rates are $4,284/FEU, an increase of 5.28% from the previous period.
Furthermore, Shanghai to Europe freight rates have risen to $1,317/TEU (20-foot equivalent unit), a 14.12% increase from the last period. Shanghai to Mediterranean rates stand at $2,328/TEU, up 11.82% from the previous period.
Analysts anticipate this upward trend in ocean freight rates will continue until the end of August. They project that rates could experience rapid increases, reaching relatively high levels before the end of June, followed by a deceleration in the rate of increase.
In light of the already commenced peak season for US-bound shipping, foreign trade enterprises with relevant business are strongly advised to closely monitor the latest shipping schedules and freight rates and to plan their transportation logistics accordingly.
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