In early 2025, global maritime freight rates continued to decline. According to data from the Shanghai Shipping Exchange on March 7, the Shanghai Containerized Freight Index (SCFI) fell for the eighth consecutive week, dropping by 78.99 points to 1,436.3 points, with a weekly decline of 5.21%.

Freight Rate Declines on Major Routes

● Europe Route: Spot prices fell below contract prices, dropping by USD 400 to USD 2,100 per large container.

● US West Coast Route: Prices broke through the USD 2,000 mark, falling to the range of USD 1,800-1,900.

● US East Coast Route: Prices also fell to the range of USD 3,200-3,300.

●Other Routes: The Mediterranean route fell by 2.97%; routes to the Persian Gulf, South America, and Australia-New Zealand saw significant declines; the Southeast Asia route experienced a slight drop, while the short-sea routes stabilized.

Market Influencing Factors

● Policy Impact: The US proposal to increase port fees, combined with existing tariff policies, has shaken market confidence and intensified the wait-and-see sentiment.

●Post-Festival Shipping Weakness: Cargo volumes remained insufficient after the Spring Festival, continuing to push freight rates downward.

In response to the current situation, shipping companies plan to raise freight rates on Europe and US routes in April. However, the actual increase will depend on cargo volume support, with the US line's contract season potentially becoming a key window. The proposed US port fee policy remains highly controversial, with the US Trade Representative's Office scheduled to hold a hearing on its feasibility on March 24.