Transpacian-pacific spot freight rates fell for the first time in a month this week as the threat of a strike at ports in the eastern United States and the Gulf of Mexico disappeared and the opportunity for early storage ahead of the Lunar New Year ended.

Meanwhile, prices on Asia-Europe routes continue to be deeply discounted, with little chance of a recovery before the start of the renminbi New Year on January 29.

According to Drewry's latest global Container Index, spot freight rates on the Shanghai-Los Angeles route fell 5% week on week to $5,228 per 40 feet, while the Shanghai-New York route fell 4% week on week to $6,825 per 40 feet. This suggests that a series of general rate increases on eastbound trans-Pacific routes (ranging from $3,000 to $1,000 per 40 feet) implemented on January 15 have yet to have an impact.

WCI spot rates for the two deals rose 35% and 21% year-on-year, respectively.

Meanwhile, rates on the Asia-Nordic and Asia-Mediterranean routes continued to weaken for a week recently, with the Shanghai-Rotterdam route falling 3% to close at $4,231 per 40 feet, down 15% year on year.

Freight rates on the WCI Shanghai-Genoa route fell 2% week-on-week to $5,086 per 40 feet and 19% year-over-year, and freight forwarders in the industry now believe the price decline could continue into February.

"We have seen a significant drop in ocean waybill rates of around $2,000/40ft from December, and we expect rates to continue to fall after the Lunar New Year," a European freight forwarder told Reuters.

"The current market price for Xeneta averages $4,488 per 40 feet, down $600 from the end of the year, and this downward trend is set to continue; At the lower end of the market, our price is $2,777 per 40 feet.

However, he also noted, "Especially in a period of high volatility like this, you can't claim that 'the market in general is down $2,000.'" But you can segment the market and tell you 'someone is trying to entice you with low interest rates.'

"It's clear that there are a lot of lower offers out there - the below-average market is down 20%-25% since the end of 2024, while the market average spot freight is down 12%."

He said the main factors contributing to this were coalition reshuffling, the Gaza ceasefire agreement, and increased overcapacity due to lower-than-expected demand.

"Can the carrier correct the situation? November and December are particularly significant for the Far East to Northern Europe and the Mediterranean routes, as the spot market is up, "says Mr Sand.

"We are entering a softer part of the year and capacity is indeed falling - although still well above where it was at the end of October - but even the rapid addition of a large number of grounded flights will not turn things around."

However, rates on transatlantic routes continue to buck the trend on East-West routes - with a one-week shipping time between Northern Europe and North America, shippers still have the option of meeting the deadline for Trump's inauguration (Monday), when new tariffs could theoretically be announced.

Freight rates on WCI's Rotterdam-New York route rose 4% week over week to $2,798 per 40 feet, up 86% year over year.