Shipping Rates to Rise as Importers Rush Goods from China

Shipping companies are gearing up for a surge in shipments out of China and a rise in shipping rates, after the U.S. and China agreed to a 90-day tariff rollback.

“Right now, our customers have 90 days of clarity with reduced tariffs, and we are working hard to help them make the best use of this window,” Danish shipping company Maersk said in a statement.

German shipping company Hapag-Lloyd said it might reverse a decision earlier this month to send smaller vessels to the U.S.

Freight forwarders in Singapore and China said big carriers have sent notices that freight rates will rise by about $900 for sailings in the second half of May, up from the current daily container rate of around $2,200.

The volume rebound is expected to coincide with the peak summer shipping season. The average sailing time across the Pacific is 22 days, said Peter Sand, chief analyst at Xeneta. He added that importers are likely to move as much cargo as possible during the 90-day trade truce.

Carriers have announced provisional trans-Pacific surcharges for the summer season of between $1,000 to $2,000 per container. That could push rates above $3,500. Provisional surcharges are common but they don’t always stick because of competitive pricing practices.

Shipping rates are poised to rise as importers accelerate shipments from China to the U.S. This surge in demand is driven by a 90-day tariff truce, during which U.S. tariffs on Chinese goods have been temporarily reduced from 145% to 30%. Major carriers like Hapag-Lloyd have reported a significant uptick in bookings, with some freight forwarders noting rate increases of up to $900 per container. This rush is expected to strain port capacities and equipment availability, potentially causing delays and further cost escalations in the sea freight sector.

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