Freight rates continue to fall, the United States, Mexico and Canada jointly imposed tariffs on China, China's tough stance
Date：2025-03-12 09:06:00 View：
Recently, China's export container shipping market is still on the road to slow recovery. Although the overall volume of the market has shown a certain growth trend, the recovery rate is far lower than the industry's expectations.
According to the latest data released by the Shanghai Shipping Exchange (SCFI), the current freight index stands at 1436.30 points, down 78.99 points or 5.21 percent from the previous period.
In terms of European routes, the drop in freight rates between Shanghai and Europe is particularly pronounced, currently at $1,582 /TEU, down 6.56% compared to the previous period. The Mediterranean route, although the decline is relatively weak, but the Shanghai to the Mediterranean freight rate has also fallen to 2,517 US dollars /TEU, a decline of 2.97%.
On the American front, the situation is not optimistic either. Freight rates between Shanghai and West America and East America fell by 7.70% and 5.10% to US $2,291 /FEU and US $3,329 /FEU, respectively.
According to a draft White House executive order obtained by Reuters, the administration not only plans to charge Chinese-built or Chinese-flagged ships to call at U.S. ports, but also seeks to urge its Allies to take similar action or face retaliatory U.S. measures.
In the face of this situation, Mediterranean Shipping Company (MSC) CEO Soren Toft has said that the company may raise freight rates to reduce the impact of the new US policy on the shipping industry.
At the same time, the complexity of the international political and economic situation is also increasing. U.S. Treasury Secretary John Bessant has revealed that Mexico has proposed to the United States to be consistent in imposing tariffs on China and encouraged Canada to do the same.
Later, Mexican President Simbaum also announced plans to review tariffs on Chinese goods. Canadian Finance Minister Dominic LeBlanc also said that Canada is ready to work with the United States to develop new measures to stop the dumping of Chinese goods in the North American market.
Faced with these challenges, China has responded accordingly. The Customs Tariff Commission of The State Council announced that from March 20, 2025, some goods originating in Canada will be subject to high tariffs. From March 20, 2025, a 100% tariff will be imposed on canola oil, oilseed cake and peas originating in Canada. A 25% tariff on Canadian seafood and pork.)
Industry insiders pointed out that the current global shipping market is in a complex and volatile period. Foreign trade enterprises need to pay close attention to changes in freight rates and other information, and timely adjust transportation plans to cope with potential risks.
SCFI rates
01. Freight from Shanghai to Europe fell to $1,582 /TEU, down 6.56% week on week
02. Shanghai to Mediterranean freight rate 2,517 US dollars /TEU, down 77 US dollars, down 2.97% on the week.
03. The freight rate from Shanghai to West America is 2,291 USD /FEU, down 191 USD, down 7.70% weekly.
04. Shanghai to the United States East freight rate of 3329 US dollars /FEU, down 179 US dollars, weekly down 5.10%.
05. Shanghai to South America freight 2422 US dollars /TEU, down 348 US dollars, down 12.56% week.