- Market average spot rates (23 May 2025) range from USD 1,949/FEU (Far East–North Europe) to USD 4,069/FEU (Far East–US East Coast), with mid-high (75th percentile) rates even higher.
- Since mid-May, mid-high rates climbed sharply—up USD 536/FEU on the Far East–US West Coast and USD 533/FEU on the Far East–US East Coast—before slowing late in the week.
- Carriers are targeting all-in rates of USD 7,000/FEU from Far East to US East Coast on 1 June, testing shippers’ willingness to absorb post-tariff relief costs.
Data Highlights (23 May 2025)
Market Average Spot Rates per FEU:
- Far East → US West Coast: USD 3,000
- Far East → US East Coast: USD 4,069
- Far East → North Europe: USD 1,949
- Far East → Mediterranean: USD 3,128
- North Europe → US East Coast: USD 2,101
Market Mid-High (75th Percentile) Spot Rates per FEU:
- Far East → US West Coast: USD 3,200
- Far East → US East Coast: USD 4,250
- Far East → North Europe: USD 2,147
- Far East → Mediterranean: USD 3,372
- North Europe → US East Coast: USD 2,322
The gap between averages and mid-highs reflects shippers paying premium “Diamond Tier” rates to secure space after the US-China 90-day tariff pause.
Rate Movements and Expectations
- Mid-May Upticks: Between 15 and 23 May, mid-high rates jumped USD 536/FEU (West Coast) and USD 533/FEU (East Coast), then moderated with smaller gains of USD 50 and USD 17, respectively, in the final days.
- North Europe Dynamics: Since 1 May, average rates from Far East to North Europe have dipped below backhaul levels (North Europe → US East Coast)—the first such inversion since before the Red Sea crisis in November 2023—driven by a slide in Asia–Europe demand rather than a transatlantic rate surge.
- June Outlook: Carriers are eyeing USD 7,000/FEU all-in rates for Far East → US East Coast beginning 1 June. Success will hinge on shippers’ appetite to pay escalating premiums once the tariff relief window ends.
Xeneta Analyst Insight
Peter Sand, Chief Analyst, Xeneta:
“The temporary tariff relief has spawned a wave of fear-driven bookings, with shippers willing to pay top-tier rates to move cargo. Carriers trimmed capacity during the 145% tariff period and are now pushing for steep increases effective 1 June, offering premium ‘Diamond Tier’ services. Negotiating power will depend on discerning whether this surge is a genuine capacity crunch or market anxiety. In reality, it’s a mix of both. Capacity repositioning takes time, so we expect spot rates to peak in early June before easing as more sailings come online.”
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Source: Xeneta
