News - Within 24 hours of the reduction of tariffs between China and the United States, shipping companies collectively raised their US line freight rates by up to $1500.

Policy background

On May 12th Beijing time, China and the United States announced a mutual reduction of 91% in tariffs (China's tariffs on the United States increased from 125% to 10%, and the United States' tariffs on China increased from 145% to 30%), which will take effect on May 14th.

The shipping company urgently raises prices

Reaction within 24 hours:

Matson Shipping: Starting from May 22nd, the price of large containers from Shanghai/Ningbo/Xiamen to the United States will increase by $1500.

ONE: In May, the price of US line large containers increased by $1000, and an additional $2000 PSS surcharge will be charged on May 21st.

EVA Shipping (EMC): From May 15th to 31st, the price of large containers in the US West Coast increased by $700 (reaching $3100).

Mediterranean Shipping (MSC): Starting from June 1st, the PSS surcharge will be $1600-2000, and the US West Coast container will reach $6000.

Hapag Lloyd: The current price for the basic port in the West Coast of the United States has been quoted at $6000.

HMM、 COSCO Shipping: $800-1000 increase from May 15th.

Comparison of price increase

US West Coast Large Container Benchmark Price (May 10th): $2347

$1500 increase → Single increase of 64%

June quote of $6000 → Accumulated surge of 156% in two weeks

market impact

The main reason for the price increase is that shipping companies predict that the reduction of tariffs will trigger a wave of export booking, which will drive up freight rates.

Short term trend: US West freight rates have entered a stage of "crazy rebound", with intensive implementation of surcharges intensifying fluctuations.

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