Freight rates have been raised, and several shipping companies have issued price increase notices for May!
Trump swung the stick of tariffs and the shipping market fell into a slump in April, with strong market volatility and a large number of airlines canceling flights. According to the latest report from Danish maritime data analysis company Sea Intelligence, during the 16th to 19th week (mid April to early May), the cumulative cancelled capacity has soared to 367800 TEUs, a fivefold increase from three weeks ago.
The planned capacity of the Asia North America West Coast route has decreased by 12% compared to six weeks ago, while the decline in the Asia North America East Coast route is even greater, reaching 14%, with some ships even departing empty.
Recently, Maersk, Daffy, Hapag Lloyd, and ONE have announced the collection of related surcharges, involving routes from the Far East to North America, Asia to the Mediterranean, and other regions.
maersk
Starting from May 15th, Maersk will adjust the Peak Season Surcharge (PSS) from the Far East region (excluding mainland China and Hong Kong) to North America.
At the same time, Maersk will impose heavy haul surcharge on 20 'dry cargo containers from Far East Asia (excluding Taiwan, China of China) to Northern Europe and the Mediterranean (the verified total weight VGM exceeds 20 metric tons). The effective price calculation date is May 1, 2025
Starting from May 20th, a peak season surcharge (PSS) will be imposed on the Indian subcontinent and the Middle East to the east coast of the United States and the Gulf of Mexico.
HAPAG-LLOYD
Starting from May 8th, Hapag Lloyd will increase the comprehensive rate hike surcharge (GRI) from Asia to Latin America, with Puerto Rico and the US Virgin Islands implementing it from May 24th.
On April 17th, Hapag Lloyd announced that peak season surcharges (PSS) will be imposed on flights from East Asia to North America. This PSS applies to all containers from May 12, 2025 until further notice.
MSC
Starting from May 1, 2025, MSC will impose an Overweight Surcharge (OVW) on all 20 foot cargo weighing over 18 tons from Asia to Northern Europe (including Scandinavia and the Baltic Sea).
ONE
Starting from May 7th, ONE will charge a Low Sulphur Mediterranean Outport (MEO) surcharge, which applies to all ONE routes.
According to the Congressional Hill, on the afternoon of April 22 Eastern Time, Trump told reporters in the Oval Office of the White House, "The 145% tariff on China is very high, it won't be that high, it will decrease significantly, but it won't be zero
According to industry insiders' analysis, although tariffs have caused certain pressure on the consolidation market, Trump's reduction of tariffs may usher in a peak consolidation season, and it is highly likely that the expected price increase by shipping companies will be achieved, but it is not absolute and still needs to be observed.
Sungreen Logistics reminds all shippers to closely monitor market trends and policy changes, and to develop shipping plans as soon as possible.
The planned capacity of the Asia North America West Coast route has decreased by 12% compared to six weeks ago, while the decline in the Asia North America East Coast route is even greater, reaching 14%, with some ships even departing empty.
Recently, Maersk, Daffy, Hapag Lloyd, and ONE have announced the collection of related surcharges, involving routes from the Far East to North America, Asia to the Mediterranean, and other regions.
maersk
Starting from May 15th, Maersk will adjust the Peak Season Surcharge (PSS) from the Far East region (excluding mainland China and Hong Kong) to North America.
At the same time, Maersk will impose heavy haul surcharge on 20 'dry cargo containers from Far East Asia (excluding Taiwan, China of China) to Northern Europe and the Mediterranean (the verified total weight VGM exceeds 20 metric tons). The effective price calculation date is May 1, 2025
Starting from May 20th, a peak season surcharge (PSS) will be imposed on the Indian subcontinent and the Middle East to the east coast of the United States and the Gulf of Mexico.
HAPAG-LLOYD
Starting from May 8th, Hapag Lloyd will increase the comprehensive rate hike surcharge (GRI) from Asia to Latin America, with Puerto Rico and the US Virgin Islands implementing it from May 24th.
On April 17th, Hapag Lloyd announced that peak season surcharges (PSS) will be imposed on flights from East Asia to North America. This PSS applies to all containers from May 12, 2025 until further notice.
MSC
Starting from May 1, 2025, MSC will impose an Overweight Surcharge (OVW) on all 20 foot cargo weighing over 18 tons from Asia to Northern Europe (including Scandinavia and the Baltic Sea).
ONE
Starting from May 7th, ONE will charge a Low Sulphur Mediterranean Outport (MEO) surcharge, which applies to all ONE routes.
According to the Congressional Hill, on the afternoon of April 22 Eastern Time, Trump told reporters in the Oval Office of the White House, "The 145% tariff on China is very high, it won't be that high, it will decrease significantly, but it won't be zero
According to industry insiders' analysis, although tariffs have caused certain pressure on the consolidation market, Trump's reduction of tariffs may usher in a peak consolidation season, and it is highly likely that the expected price increase by shipping companies will be achieved, but it is not absolute and still needs to be observed.
Sungreen Logistics reminds all shippers to closely monitor market trends and policy changes, and to develop shipping plans as soon as possible.
