Freightos Baltic: Asia–Mediterranean rates slipped while transpacific rates remain steady
The extension, announced in August, has yet to trigger a major demand surge but may have slowed the pace of decline.
|
Route |
Cost (USD/FEU) |
Changes |
|
Updated on 16 September 2025 |
||
|
Asia - US West Coast |
$2,309 |
á 7% |
|
Asia - US East Coast |
$3,368 |
á 4% |
|
Asia - Northern Europe |
$2,585 |
á 2% |
|
Asia - Mediterranean |
$2,833 |
â 4% |
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Transpacific spot rates gained ground last week, underpinned by early-month General Rate Increases (GRIs), stronger pre–Golden Week demand and capacity reductions. Rates to the US West Coast rose 7% to $2,309/FEU, 34% higher than at end-August, while East Coast prices climbed 4% to $3,368/FEU, marking a 24% month-to-date increase. Market participants also pointed to the extension of 30% US tariffs on Chinese imports as a factor in stabilising volumes.
The extension, announced in August, has yet to trigger a major demand surge but may have slowed the pace of decline. According to the National Retail Federation (NRF), US second-half imports are forecast to fall 10% year on year, with sharper declines of 13% in October and 20% in November–December. Still, September arrivals are now estimated at 16% above earlier projections, suggesting tariffs have provided some support.
Trade negotiations between Washington and Beijing resumed in Madrid this week, with progress on a potential TikTok deal raising hopes for broader talks. Industry players remain cautious over the planned October 14 USTR port call fees on Chinese vessels, viewing them as a possible bargaining chip. Carriers, meanwhile, continue to shuffle capacity and increase blanked sailings, moves that have lent temporary support to spot rates. Additional mid-month GRIs are expected, though most observers anticipate a downward correction as seasonal demand tapers.
On the Asia–Europe lanes, container rates have begun to soften as peak season winds down. North Europe rates edged up 2% to $2,585/FEU last week, while Mediterranean prices slipped 4% to $2,833/FEU. Both routes have lost about $200/FEU so far this week, reflecting easing demand into Golden Week and persistent vessel oversupply. Despite year-on-year volume growth, rates remain well below the $5,000+/FEU levels recorded last September, underscoring the impact of expanding capacity across the trade.
Written: Farid Muzaffar