Freight market update - 18 June 2025

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• Several regional ports experienced temporary closures due to dense fog lasting anywhere from 2 to 33 hours.

• Additional closures occurred during Eid Al Adha celebrations, lasting between 8 and 36 hours.

• The United Kingdom Maritime Trade Operations (UKMTO) has issued a cautionary advisory for vessels navigating the Arabian Gulf, Gulf of Oman, and the Strait of Hormuz.

• Iran has responded with threats to target U.S. military bases if provoked.

• Ports in Northern Europe are experiencing their worst congestion crisis since the COVID-19 pandemic.

• Maersk has announced it will bypass Rotterdam on its TA5 service beginning June 25 due to the worsening congestion.

• Strikes at APM Terminals in Rotterdam, along with barge delays of up to 56 hours, are creating major disruptions.

• Both SONAR and Freightos report a significant spike in container rates from Asia to the U.S. West Coast.

• July import volumes are now projected to be 9% lower than August 2024’s peak and 4% below April 2025 levels.

• In early June, the Trump administration raised Section 232 tariffs on steel and aluminum imports to 50%.

Read on for more in-depth updates.

Asia → North America

US/CA

Transpacific Trends and Market Updates

• Several regional ports experienced temporary closures due to dense fog lasting anywhere from 2 to 33 hours.
• Additional closures occurred during Eid Al Adha celebrations, lasting between 8 and 36 hours.
• These shutdowns have led to rising congestion levels and longer vessel waiting times at key terminals.
• Severe berth congestion continues across many ports, with vessel wait times ranging from 1 day to as much as 7 days.
• Notably, Chittagong is facing delays of 6–7 days, while Westport (WP) reports waits of around 3 days.
• Several terminals are reporting yard occupancy levels exceeding 85%, with some as high as 95%.
• High yard density is significantly reducing terminal productivity and increasing vessel delay durations.
• To cope with congestion, terminals like PSA and WP are prioritizing vessel loading operations.
• This prioritization could lead to extended waiting times for vessels focused on discharging cargo.
• Ongoing maintenance activities, such as dredging at terminals like QQCTU, are slightly limiting quay availability and impacting operations.
• Trans-Pacific container rates rose sharply over the past week, signaling an early start to the peak season.
• Shippers are frontloading shipments in anticipation of potential tariff changes in July and August.
• Both SONAR and Freightos report a significant spike in container rates from Asia to the U.S. West Coast.
• Ocean carriers implemented GRIs starting June 1, contributing to this rise.
• The Freightos Baltic Index for the week ending June 6 showed a doubling of rates, including GRIs.
• Rates to the U.S. East Coast climbed 60%, reaching last year’s record levels, fueled by early demand, Red Sea disruptions, and a strike threat from the International Longshoremen’s Association.
• Carriers plan additional GRIs of $1,000–$3,000 per FEU in mid-June and early July.
• China’s ports are still working through backlogs caused by earlier demand slowdowns and vessel shifts to other tradelanes.
• According to Judah Levine of Freightos, elevated rates are expected to remain through June and July due to tight vessel capacity and congestion at several Far East ports.
• Rate pressures could ease by mid-July as demand tapers and more ships return to the Trans-Pacific route.

U.S. Port Preparations and Demand Forecasts

• U.S. ports are preparing for a surge in container arrivals amid concerns of potential congestion.
• The National Retail Federation has revised its forecast, predicting a smaller-than-expected July peak.
• July import volumes are now projected to be 9% lower than August 2024’s peak and 4% below April 2025 levels.
• This shift reflects earlier order slowdowns due to tariff hikes up to 145%, followed by renewed imports after a tariff reduction and a 90-day suspension.
• The rise in Trans-Pacific demand is influencing other routes, with Asia-Mediterranean rates up 32% per FEU, as reported by Freightos.
• Further increases are expected by mid-June.
• Long-term rate stability will depend on ongoing trade negotiations between the U.S., China, and the EU, and whether tariffs are permanently rolled back.
• Demand from India continues to weaken heading into late June.
• Pakistan has experienced a slight increase in demand.
• Bangladesh shows mixed demand patterns, which vary by carrier and are influenced by conditions in the Far East.
• FAK/NAC rates out of India remain stable.
• Most carriers report widely available space for Indian exports.
• Container supply in India is generally sufficient at present.
• Some early signs of equipment shortages are emerging in Pakistan.
• Space from Bangladesh is mostly available.
• However, capacity is tightening for carriers routing shipments through Asia.
• Ongoing congestion at Colombo is disrupting feeder services.
• This is impacting cargo flow into Southern Indian ports such as Chennai and Tuticorin.

Turkey → North America

• In early June, the Trump administration raised Section 232 tariffs on steel and aluminum imports to 50%.
• Exemptions for derivative products were significantly narrowed.
• The United Kingdom received a temporary exemption, contingent on ongoing negotiations linked to a potential U.S.-UK Economic Prosperity Deal.

U.S.-EU Trade Negotiations

• Trade discussions with the European Union are entering a sensitive stage.
• EU officials are weighing a proposal to accept a flat 10% U.S. tariff on all European exports.
• This move aims to prevent higher tariffs on key sectors such as cars, pharmaceuticals, and electronics.
• The proposal includes conditions and is still under negotiation, with no final agreement reached.
• Broader U.S.-EU talks are also encountering challenges, particularly around agriculture, digital services, and pharmaceuticals.
• Both sides are working to find compromises that are politically acceptable.
• U.S.-China trade talks are moving forward cautiously.
• Both nations claim to have a tentative “framework” deal addressing rare earths and semiconductors.
• However, officials acknowledge that many critical aspects are still unresolved.
• The agreement is pending final approval from Presidents Trump and Xi.
• Ports in Northern Europe are experiencing their worst congestion crisis since the COVID-19 pandemic.
• Major hubs such as Rotterdam, Antwerp, Hamburg, and Bremerhaven are struggling with severe delays and operational bottlenecks.
• As of June 13, 2025, the situation remains critical and shows no signs of immediate relief.
• Multiple factors are compounding the crisis, including labor strikes, rail closures, shifting carrier alliances, and low water levels on inland waterways.
• These issues have triggered a chain reaction, significantly disrupting port operations and logistics flows.
• Maersk has announced it will bypass Rotterdam on its TA5 service beginning June 25 due to the worsening congestion.
• Officials in Antwerp have labeled the current scenario as “the worst since COVID.”
• Container dwell times in key terminals have surpassed eight days, and storage yards are operating at full capacity.
• Strikes at APM Terminals in Rotterdam, along with barge delays of up to 56 hours, are creating major disruptions.
• Transport via the Rhine River is being hampered by critically low water levels.
• Rail infrastructure issues and construction closures are further aggravating inland connectivity.
• Ocean carriers are rerouting vessels, skipping heavily congested ports, and introducing congestion surcharges.
• Terminals have begun limiting the return of empty containers and enforcing emergency protocols such as berth prioritization and restricted export delivery windows.
• The disruption is expected to persist through August.
• Ripple effects are already being felt across global supply chains, which are simultaneously dealing with instability in the Middle East and ongoing trade tensions between the U.S. and China.

North America → Turkey

• Strong demand continues, driven by the traditional summer peak season and the effects of the 90-day reciprocal tariff.
• However, new bookings have started to show signs of slowing.
• Capacity is improving on the U.S. West Coast, with several carriers reinstating services.
• The number of blank sailings has decreased, contributing to higher available capacity.
• Total capacity for the second half of June is projected to exceed normal seasonal averages.
• Freight rates on the West Coast have softened after multiple reductions over recent weeks.
• East Coast rates have held steady, showing no significant changes for now.
• The rate of blank sailings continues to decline.
• In Week 24, only 9% of capacity was blanked, a significant drop from 34% in May.
• Tariff policy remains a central focus for the industry.
• The 90-day reciprocal tariff pause, initially set to end on July 9, is now expected to be extended.
• Chinese-origin cargo loaded after May 14 is still subject to a 10% reciprocal tariff until at least August 11.
• Long-term tariff levels beyond that date remain uncertain.
• The United Kingdom Maritime Trade Operations (UKMTO) has issued a cautionary advisory for vessels navigating the Arabian Gulf, Gulf of Oman, and the Strait of Hormuz.
• This advisory comes ahead of nuclear negotiations between the U.S. and Iran, set to take place in Oman on June 15.
• The U.S. has warned of potential military action if the talks fail.
• Iran has responded with threats to target U.S. military bases if provoked.
• These developments hold major significance for global trade, as around 20% of the world’s oil supply passes through the Strait of Hormuz.
• Any disruptions in this region could have a serious impact on energy prices and global supply chains.
• Jakob Larsen, Chief Safety & Security Officer at BIMCO, noted that a full-scale armed conflict involving Israel, the U.S., and Iran could temporarily close the Strait and lead to a surge in oil prices.
• Tensions in the region have already been heightened by recent incidents involving Iranian forces detaining cargo ships under allegations of smuggling.
• In March, several vessels traveling through the Strait reported GPS jamming, raising additional safety concerns.
• These incidents have added to the growing sense of uncertainty and risk for maritime operations in the region.
• Although Red Sea traffic has recovered by about 60% since August 2024, with 36–37 ships transiting daily, this remains well below the pre-crisis average of 72–75 vessels per day.
• Ocean carriers continue to exercise caution, citing the lack of safety guarantees for ships, crews, and cargo as a major concern.
• On Friday, Israel launched extensive pre-emptive airstrikes on Iran, further escalating tensions in the region.
• The latest UKMTO advisory emphasized that “the situation remains highly volatile.”
• While there is no confirmed targeting of commercial shipping at this time, UKMTO warned that the close proximity of flashpoints to key maritime routes poses a high risk of escalation.

Terminal Updates

Vessels heading to North America via the North Atlantic Sea are expected to have a change in schedule due to severe weather conditions.

New York:

• The waiting time for all vessels calling APMT is up to 4 hours. Maher Terminals LLC reports vessel waiting times averaging around 4 hours.
• Average gate turn times are 54 minutes for single transactions and 60 minutes for double transactions at APMT terminals and 38 minutes for Maher Terminals.
• The average import rail dwell time is 5.3 days at APMT and 1.4 days at Maher Terminals.
• The last 2 cranes on APMT East berth to be operational by end of June.

Norfolk:

• No waiting time for a berth for Gemini and Non-Gemini Vessels.
• Average gate turn times are 29 / 43 minutes for single and double transactions at NIT, and 32 / 47 minutes for single and double transactions at VIG.
• The average Import dwell time is 2.7 days.
• Crane #4 at NIT remains out of service since April 16 with no current update.

Charleston Terminal:

• No waiting time for Gemini and non-Gemini vessels at Wando Welch Terminal.
• No waiting time at North Charleston Terminal.
• Average truck turn times are 19 / 21 / 17 minutes at Wando Welch Terminal, North Charleston Terminal, and Leatherman Terminal respectively.
• Average Import dwell time is 8.3 days at North Charleston Container Terminal.
• Average Import dwell time is 8.3 days at Wando Welch Container Terminal.

Savannah:

• The average waiting time for vessel berth is 0.75 days for class 1 and 1 day for class 2 vessels.
• Average gate turn times are 33 / 51 minutes for single and double transactions respectively.
• Import dwell time is 6.4 days. Rail dwell time is 1.1 days.

Houston:

• Waiting time is up to 3 hours at Barbours Cut Terminal and 6 hours at Bayport Container Terminal.
• Average gate turn times are 32 / 49 minutes at Barbours Cut and 30 / 49 minutes at Bayport for single and double transactions respectively.
• Loaded import dwell time is 3.6 days at Barbours Cut and 3.6 days at Bayport.
• Yard use remains high at Barbours Cut.
• Effective July 1, 2025, Excessive Import Dwell Fees will be implemented for loaded refrigerated (reefer) import containers.
• These fees will apply after the expiration of free time.
• This includes days when the terminal truck gates are closed due to scheduled terminal closures.

Oakland:

• No waiting time at Oakland International Container Terminal (OICT).
• Average gate turn time is 84 minutes for OICT.
• Average import deliveries can take up to 4 days at OICT.
• Oakland International Container Terminal has 3 cranes out of order.
• It will be closed on June 19, 2025.

Seattle-Tacoma:

• No waiting time at Husky Terminal or Washington United Terminal in Tacoma.
• No waiting time in Seattle.
• Import rail dwell is 2.2 days at Husky and 3 days at T18.
• The average gate turn times are 32 minutes for T18.
• Average gate turn times are 33 / 52 minutes for single and double transactions at Husky.
• Husky is not offering hoot gates on Week 25.
• T18 and Husky will be closed on June 19, 2025.

Los Angeles/Long Beach:

• All terminal gates are running as published and in line with the Pier Pass program.
• Port of Los Angeles dwell time for local import cargo is 2.9 days; on-dock rail dwell is 3.7 days.
• Import units on the street are averaging 4.4 / 7.1 days for 20 ft and 40+ ft containers respectively.
• Port of Long Beach dwell times for local imports remain at 4-8 days.
• Average terminal gate turn time is between 47 - 53 minutes, depending on the terminal.

Chassis Pools

All pools are operating as normal except:

• Chicago – Constrained on 20’ chassis.

Intermodal Operations

Truck power can be secured within 1-3 days for the majority of locations, including marine terminals, rail ramps, and depots.

Port Status

Final Thoughts

In light of the latest updates and trends, the market is currently in the course of showing robust performance and is equipped with ample capacity and resources. Individuals and businesses involved in import/export activities must stay well-informed about market dynamics and strategies to make informed decisions.

To ensure a smooth and hassle-free experience with your import/export operations, it is recommended to seek guidance from industry experts. Taking proactive measures and staying proactive in your approach will help you navigate the market effectively. We greatly appreciate your continued readership and encourage you to subscribe to our weekly market updates to stay abreast of the latest developments and insights.