Following the 90-day tariff pause between the US and China, transpacific ocean freight rates have continued to spiral upwards, even after carriers imposed a General Rate Increase (GRI) earlier this month.

With the trade war previously leading to significant service cuts, the market is now experiencing heightened demand and low capacity, further driving up prices.

Reports from The Loadstar indicate that up to 800,000 loaded containers were ready to ship when the tariff news broke, and high volumes are expected to persist as the third quarter approaches. In light of this, additional GRIs are anticipated in June, possibly on both the 1st and 15th.

Carriers have swiftly responded to the surge in demand by reinstating transpacific services that had been withdrawn in April and May. In addition, the Gemini Cooperation has announced an extra service between East China, North-east Asia, and Long Beach, scheduled to start at the end of June.

However, short-term capacity remains tight due to redeployed services, and congestion at Chinese ports continues to hinder the flow of goods.

Westbound customers are advised to stay up to date with the developing situation as rates are moving. For further information, please do not hesitate to contact the team.

If you have any questions regarding the above, then Westbound are here to help. So, please do not hesitate to contact us.