Freight market update - 25 September 2025

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• Ongoing blank sailings of Trans-Pacific Eastbound voyages and frequent port rotation changes are causing several U.S. terminals to be bypassed.

• The Asia–North Europe and Asia–Mediterranean routes are currently short of around 500,000 TEUs of capacity.

• The Ocean Alliance is the most exposed, particularly on its Asia–North Europe NEU7 string.

• Container Trade Statistics data showed shipments from the Far East to Europe rose 9% year-over-year in July.

• New U.S. port fees targeting Chinese-built and Chinese-owned vessels are set to take effect on October 14.

• Sea-Intelligence data shows that empty containers made up 41% of global container transport in July, compared to 31% in 2019.

• Repositioning empty containers costs over $20 billion annually, making up more than 12% of total operating expenses for shipping lines.

• Houthi attacks in the Red Sea have caused a 20% increase in empty container travel distances.

• HSBC estimates combined costs of over $2 billion for COSCO and OOCL in 2026.

• Carriers plan to restore capacity quickly post–Golden Week to match anticipated demand recovery, helping keep overall space availability stable.

Read on for more in-depth updates.

Asia → North America

US/CA

Transpacific Trends and Market Updates

• Ongoing blank sailings of Trans-Pacific Eastbound voyages and frequent port rotation changes are causing several U.S. terminals to be bypassed.
• These disruptions are delaying the repositioning of empty containers back to their origin points.
• Empty containers are building up at terminals, taking up valuable yard space.
• This congestion is slowing the flow of outbound shipments and may increase associated costs.
• Global sourcing patterns are shifting, creating new production hubs in regions with previously low output.
• These emerging locations are not receiving enough empty containers to meet growing export demands, leading to further shipment delays.
• The Asia–North Europe and Asia–Mediterranean routes are currently short of around 500,000 TEUs of capacity.
• Despite this shortage, spot ocean freight rates between the Far East and Europe remain under pressure.
• The vessel shortfall is not affecting all alliances equally.
• The Ocean Alliance is the most exposed, particularly on its Asia–North Europe NEU7 string.
• In contrast, the Premier Alliance and Gemini Cooperation have managed to maintain more consistent service levels.
• The limited idle fleet and near-total absence of large vessels for spot charter are constraining the market.
• With few options to cover service gaps, carriers are operating under tight conditions.
• The shortfall is further amplified by rising demand.
• Container Trade Statistics data showed shipments from the Far East to Europe rose 9% year-over-year in July.
• Despite this growth, both spot and contract freight rates continue to decline.
• Alphaliner linked this disconnect to aggressive pricing strategies among carriers.
• Vespucci Maritime CEO Lars Jensen, speaking on the NYSHEX podcast, suggested that rates may still have further room to fall.
• Spot market rates between Shanghai and Europe have dropped by 45% over the past ten weeks.
• This decline persists even as Red Sea disruptions continue to absorb capacity.
• New U.S. port fees targeting Chinese-built and Chinese-owned vessels are set to take effect on October 14.
• Carriers are adjusting their networks to reduce financial exposure and ensure service continuity.
• Major container lines—including Maersk, Hapag-Lloyd, ONE, and Yang Ming—are already withdrawing China-built vessels from U.S.-bound services ahead of the October 14 deadline.
• COSCO and its subsidiary OOCL could face over $2 billion in financial exposure over the next year.
• HSBC also warned that rotating vessels out of U.S. trade lanes could create short-term capacity constraints.
• Citing Drewry data, splash247 reported a 20% decline in the number of Chinese-built vessels operating on U.S. trade lanes.
• SeaTrade Maritime noted that HSBC found 71% of global container ship capacity comes from non-Chinese shipyards.
• On major routes such as the Trans-Atlantic and Trans-Pacific, China-built vessels represent just 21% of capacity.
• Only 15% of all U.S. port calls involved vessels constructed in China.
• Rates are softening after summer increases, with some carriers showing further decreases through September.
• Volumes from Bangladesh remain pressured, though congestion at key hubs is beginning to ease.

Operational challenges continue:

• Weather-related stoppages have disrupted flows from Mundra, Kandla, and Nhava Sheva.
• Colombo is facing yard density issues, leading to delays of up to two days.
• MSC has adjusted its Karachi service by adding a Malabar shuttle, cutting overall transit times to North Europe by ~5 days while still retaining transshipment.
• Shippers are advised to book 2–3 weeks in advance to secure space and align with target sailings.

Turkey → North America

• Sea-Intelligence data shows that empty containers made up 41% of global container transport in July, compared to 31% in 2019.
• The share of empty container movements has been rising steadily over the past five years, with only a slight decline in 2022.
• Sea-Intelligence data highlights that imbalanced trade flows are causing an unequal distribution of empty containers across markets.
• This imbalance has increased the movement of empty containers relative to loaded ones.
• Matthew Burgess, Vice President of LCL USA at Shipco Transport, noted that North American ports often see a surplus of containers due to higher imports than exports, while Asia frequently experiences shortages.
• Empty container repositioning is costly, contributes to port congestion, and adds to emissions.
• Repositioning empty containers costs over $20 billion annually, making up more than 12% of total operating expenses for shipping lines.
• Sea-Intelligence data shows that for every 10 miles a loaded container travels, an empty one must move 4.1 miles to rebalance supply—up by one mile since 2019.
• Houthi attacks in the Red Sea have caused a 20% increase in empty container travel distances.
• Carriers are currently absorbing these higher costs to maintain equipment availability, but if the trend continues, the expenses are likely to be passed on to customers.

North America → Turkey

• New U.S. port fees targeting Chinese-built and Chinese-operated vessels will begin on 14 October.
• The measure follows an investigation that found China’s subsidies and state support have enabled it to dominate global shipbuilding.
• The financial impact will fall heavily on Chinese carriers.
• HSBC estimates combined costs of over $2 billion for COSCO and OOCL in 2026.
• Non-Chinese carriers can largely avoid the fees by reallocating fleets.
• Sea-Intelligence data shows early signs of Chinese-built ships being withdrawn from the Transpacific trade, though no major shift has yet been seen on the Transatlantic.
• CMA CGM, MSC, and COSCO have announced contingency plans, including vessel reassignment and transshipment strategies via Canada, Mexico, and the Caribbean.
• Carriers claim that no surcharge will be passed on to customers.
• However, the scale of costs could still reshape routes and fee structures, significantly affecting shippers.
• Demand remains flat for this time of year, with no notable pre–Golden Week surge; oversupply in the market is keeping volumes subdued.
• September’s second GRI attempt failed to take hold, with pricing slipping back to pre–September levels as capacity continues to outweigh demand.
• Port congestion is minimal on the West Coast and improving on the East Coast, with fewer delays than earlier in the year.
• Capacity is expected to peak in week 39, followed by sharp reductions during Golden Week (East Coast down ~37%, West Coast down ~18%).
• USTR fees on Chinese-built and operated vessels calling at U.S. ports will begin on 14 October, adding new cost pressures and possibly altering deployment patterns.
• CMA CGM confirmed it will not add surcharges, while COSCO could face up to $2.1 billion in annual costs.
• Carriers plan to restore capacity quickly post–Golden Week to match anticipated demand recovery, helping keep overall space availability stable.

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 Gemini and non-Gemini vessels calling APMT is six hours, while Maher Terminals LLC has a waiting time of approximately nine hours.
• Average gate turn times are 32 minutes for single transactions and 65 minutes for double transactions at APMT, and 40 minutes at Maher Terminals.
• The average import rail dwell time is 0.4 days at APMT and 0.9 days at Maher.
• The last new crane on the East berth at APMT should be operational by the end of summer.
• APMT New York is facing high demand for gate appointments and may be unable to accommodate all requests, particularly on vessel cut-off days.
• Customers are encouraged to deliver export cargo early when appointments are more available.

Norfolk:

• At Norfolk, waiting times are up to six hours for both Gemini and non-Gemini vessels.
• Average gate turn times are 29 and 41 minutes for single and double transactions, respectively, at Norfolk International Terminal, and 34 and 52 minutes, respectively, at Virginia International Gateway.
• The average import dwell time in Norfolk is 3.6 days.
• Four new cranes will be delivered in September and commissioned in January 2026, with North NIT expected to be operational in late September.

Charleston Terminal:

• At Charleston’s Wando Welch Terminal, Gemini and non-Gemini vessels face up to three hours of waiting, while there is no waiting time at North Charleston Terminal.
• Average truck turn times are 19 minutes at Wando Welch Terminal, 18 minutes at North Charleston Terminal, and 15 minutes at Leatherman Terminal.
• Import dwell time is 6.9 days at Wando Welch Terminal and 3.5 days at North Charleston Terminal.

Savannah:

• At Savannah, average vessel berth waiting time is up to 2.3 days for both class 1 and class 2 vessels.
• Average gate turn times are 33 minutes for single transactions and 48 minutes for double transactions.
• Import dwell time in Savannah is 4.9 days, while rail dwell time is 1.1 days.

Houston:

• At Houston, waiting times are up to three hours for Gemini and non-Gemini vessels at both Barbours Cut Terminal and Bayport Container Terminal.
• Average gate turn times at both terminals are 35 minutes for single transactions and 55 minutes for double transactions.
• Loaded import dwell time is 3.6 days at Barbours Cut and 3.5 days at Bayport.
• Barbours Cut currently has one crane down, while Bayport has two cranes down.
• Yard utilization at Barbours Cut remains high, with the Port of Houston adjusting receiving days and cut-off times on short notice.

Oakland:

• At Oakland, there is no waiting time for Gemini and non-Gemini vessels at Oakland International Container Terminal.
• Average import deliveries at Oakland take up to four days.
• The average gate turn time is 90 minutes.
• Oakland International Container Terminal currently has two cranes out of service.

Seattle-Tacoma:

• At Seattle-Tacoma, there is no waiting time at Husky Tacoma or Seattle.
• Import rail dwell time is 2.3 days at Husky and three days at Terminal 18.
• Average gate turn times are 49 minutes at T18, and 45 minutes for single transactions and 71 minutes for double transactions at Husky.
• Husky will not offer Saturday or hoot gates in week 39.

Los Angeles/Long Beach:

• At Los Angeles, all terminal gates are operating as published under the Pier Pass program.
• Dwell time for local import cargo at the Port of Los Angeles is 3.1 days, on-dock rail dwell is 3.7 days.
• Import units on the street are averaging 3.8 days for 20 ft containers and 6.7 days for 40+ ft containers.
• At the Port of Long Beach, local import dwell times remain at 4–8 days.
• Average terminal gate turn times at Long Beach Container Terminal range between 45 and 50 minutes, depending on the shift.

Chassis Pools

All pools are operating as normal except:

1. Chicago – Constrained on 20’ chassis.
2. El Paso – Deficit on 40’ chassis.
3. Baltimore – Constrained on 20’ and 40’ 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.