27 May Spot Rates Rise As Tariffs Pause
Spot rates rose in the eastbound trans-Pacific in response to the significant increase in cargo during the 90-day reprieve between China and the USA. Whilst many pricing indexes are yet to reflect the post-agreement rate increase, general rate increases are anticipated alongside reduced vessel capacity and potential port congestion.
With a substantial amount of cargo being moved, quotes provided prior to this period are being rescinded in this new market environment as the demand for bookings has soared amidst reduced capacity.
Whilst a surge in shipments is anticipated for the upcoming period of paused tariffs, it is difficult to foresee what the supply chain landscape will look like once the trade agreements are finalised.
However, as the market faces an increasingly significant capacity imbalance, there is concern about the longer-term impacts of the changes, such as port congestion, equipment availability and manufacturing delays.
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