Last week, the cost of sea container transportation from Asia to North America increased slightly despite the tension in trade relations between the two markets, Logist.FM reports, citing Freightos. The Trump administration’s move to significantly increase customs tariffs has caused unrest throughout the sector. Therefore, transport tariffs have continued to rise, although one could expect the opposite result due to a potential decrease in demand.
In particular, since April 16, rates for ocean transportation from Asia to the West Coast of the United States have increased by about 10% to $ 2,465 per forty-foot container. Meanwhile, rates to the East Coast have increased by 3% to $ 3,647.
According to experts, customers are still trying to “jump on the last train.” That is, they send cargo, hoping that they will have time to deliver it to the American market and pay less customs duties than will be the case soon.
This trend in the Asia-US direction has been observed since November of last year, experts remind. Last week, when it became known about the Trump administration’s decision to impose a 125% tariff on Chinese imports, it seemed that all chances to save money were lost. But then the Americans announced their intention to increase customs tariffs to 245%. So, a “profitable opportunity” has again appeared to quickly import goods.
At the same time, the shipping lines serving this direction of transportation have seen an increase in empty and canceled flights. This means that there is no excess supply that would cause a drop in transportation costs yet.
