Freightos Baltic: Ocean freight rates stabilised as frontloading activities tempered broader market weakness

Shipping rates showed tentative signs of stabilisation as accelerated shipments to the US continued ahead of crucial trade policy deadlines. However, a continued decline in the broader freight market indicated that shippers continued to struggle with excess global capacity.

East Coast rates from Asia recovered by 1%, clawing back a slight fraction of the previous week's 5% decline. Meanwhile, the West Coast saw a 2% rate reduction - a milder contraction compared to the prior week's 7% drop. 

Front-loaders remained focused on two pivotal dates: 2 April for retaliatory tariff announcements and 3 April for the scheduled implementation of 25% tariffs on automotive imports. However, analysts indicated that frontloading activity could extend beyond these deadlines, given the uncertain implementation timeline of potential reciprocal measures.

Nonetheless, fundamental weaknesses persisted in the wider freight market, particularly after a year-on-year expansion in fleet capacity. On the Asia — Europe lane, rates fell below 2024’s floor as the market entered a seasonal lull. 

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