Freight market update - 17 April 2025

Q2 rolls forward with no shortage of movement — both in cargo and complexity. While consumer demand remains muted in North America, global freight continues to shift around tariff-driven sourcing, carrier repositioning, and early signs of a pre-peak container push in Asia-Pacific.

We’re now seeing the true ripple effect of the 84% U.S. tariff on China-origin goods. Demand is fragmenting toward Southeast Asia, freight procurement is getting more agile, and nearshoring continues gaining traction across North America. It’s not just about where cargo ships from anymore — it’s about agility, visibility, and cost control.

Key Takeaways for the U.S. Market

Demand Trends

• China outbound volumes dipped 11–15% YoY, driven by tariff shocks and price renegotiations from buyers in the U.S. and EU.

• Vietnam, India, and Thailand are benefitting, with fast-growing spot container volumes and new consolidator activity.

• Retail & FMCG importers are still cautious, but eComm and electronics continue to pull moderate steady demand into U.S. East Coast ports.

Capacity & Carrier Behavior

• Blank sailings are increasing again — Maersk, HMM, and ONE are tightening space from Asia to stabilize rates.

• Transatlantic routes remain over-supplied, forcing carriers to slash rates or roll cargo last minute.

• Trucking market across U.S. is oversaturated, but chassis shortages in inland hubs (Dallas, Chicago) are causing brief disruptions.

News & Regulations

• New U.S.-China tariff enforcement is fully active. CBP enforcement continues around HTSUS 9903.01.63.

• India signs key trade corridor agreement with UAE and Saudi Arabia, boosting South Asia’s trade positioning.

• EU-ETS carbon surcharges expanding — now applied to intra-Europe AND Europe-Asia lanes.

Rate Trends

• FEWB & TPEB ocean rates have rebounded slightly, holding gains after early-April blank sailings.

• Spot air freight pricing remains high, especially for electronics out of Hong Kong and Malaysia.

• U.S. FTL rates are flat to down, with capacity unutilized and spot market still suppressed.

Ocean Freight Market Updates

Asia → U.S.

• Tariff impact is real — some shippers have rerouted via Mexico to avoid U.S. duties.

• Vietnam is heating up: Port of Hai Phong reporting 19% spike in TEU volumes since March.

• Container availability tightening in South China, driving short-term delays in consolidation shipments.

Europe → U.S.

• Freight rates are weakening, especially from North Europe to East Coast — too much space chasing too little cargo.

• Carbon surcharge transparency still poor — forwarders raising concerns about inconsistent pass-through by carriers.

• Rotterdam and Hamburg operating clean, with no major backlogs reported this week.

U.S. Domestic & Nearshoring

• Mexico-U.S. cross-border lanes remain congested but strong, fueled by auto and nearshoring textile orders.

• Rail velocity improving into Midwest hubs — especially for intermodal out of LA/LB.

• Warehouse demand on the East Coast is picking up, particularly in New Jersey and PA for food and pharma SKUs.

We’re not just seeing a rate war — we’re seeing a structural realignment in global freight. This isn’t short-term volatility; it’s a long-term shift in origin diversification, import strategy, and risk management.

At Beeontrade, we’re keeping clients agile with multi-origin sourcing visibility, real-time carrier analytics, and intelligent warehousing options across NJ, LA, and Houston. Whether you’re rebalancing your network or chasing new growth corridors — we’ve got your back.

More trade. Less friction. That’s the Beeontrade way.