BUSINESS

Shipping Rates Soar as China-U.S. Export Rush Overwhelms Ports

Published: May. 31, 2025 5:00 a.m. GMT+8

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Container ships at the Yangshan Deepwater Port in Shanghai on May 14, 2025.

Shipping rates on China-U.S. routes are skyrocketing at record-breaking speeds as exporters scramble for space and global freight markets buckle under the pressure of a post-tariff export boom.

“Rates are changing by the day,” said one freight forwarder in Shanghai. “We expected an increase, but not this fast. Clients are fighting for bookings, and even trucking costs are climbing.”

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China-U.S. shipping rates have surged sharply, with West Coast rates up 142% and East Coast up 92% in five weeks; Shanghai and Ningbo freight indexes posted their largest-ever weekly increases.
The spike is driven by a post-tariff export rush and vessel redeployment delays, resulting in bottlenecks at Shanghai and Yantian ports, and tight shipping capacity.
New sailings and increased capacity are expected in June, with average weekly capacity projected to rise 35% to 328,000 TEUs.

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Who’s Who

CMA CGM: According to the article, Huatai Futures expects that the French shipping company CMA CGM’s rates for shipping from China to America’s West Coast will rise to $8,346 per 40-foot equivalent unit (FEU) by mid-June, reflecting the ongoing surge in container shipping prices on China-U.S. routes.

Hapag-Lloyd: According to the article, analysts expect that Hapag-Lloyd’s rates on China-U.S. East Coast routes could reach $9,273 per 40-foot equivalent unit (FEU) by mid-June, reflecting the ongoing surge in shipping costs due to strong demand and limited capacity.

Shanghai International Port Group: Yang Yanbin, deputy general manager at Shanghai International Port Group, reported that during the week of May 19–25, export volume to America rose 49.4% to 59,000 20-foot containers (TEUs). He noted that all suspended transpacific sailings had resumed, restoring weekly service levels to 42 sailings from Shanghai.

Topocean Group: Qian Long, head of Topocean Group’s Shanghai-based international freight unit, explained that shipping volumes plummeted in late April due to tariff fears, which caused carriers to redeploy their vessels elsewhere. As demand rebounded, many ships were still en route back to China, leading to a short-term capacity crunch on China-U.S. shipping routes.

KMTC: According to the article, Korea’s KMTC (Korea Marine Transport Co.) will launch its new APX service to America’s West Coast on June 18. This move is part of shipping lines’ efforts to restore transpacific capacity amid surging demand and record-high shipping rates on China-U.S. routes.

ZIM Integrated Shipping Services: According to the article, ZIM Integrated Shipping Services, the Israeli international shipping line, has already reinstated its ZX2 fast service on China-U.S. routes. This move is part of a broader trend where shipping lines are rapidly restoring transpacific capacity in response to surging demand and skyrocketing freight rates.

Premier Alliance: The Premier Alliance is a partnership between shipping lines ONE, HMM, and Yang Ming. In response to the surge in demand on China-U.S. routes, the Premier Alliance has added a new service and upgraded two others to help restore transpacific shipping capacity.

ONE (Ocean Network Express): According to the article, ONE (Ocean Network Express), as part of the Premier Alliance with HMM and Yang Ming, has responded to the capacity crunch on China-U.S. routes by adding a new service and upgrading two existing ones. This action aims to help restore transpacific shipping capacity amid surging demand and record rate increases.

HMM: According to the article, HMM is part of the Premier Alliance along with ONE and Yang Ming. This alliance has responded to the capacity crunch by adding a new service and upgrading two others on China-U.S. routes to help restore transpacific shipping capacity amid soaring demand and shipping rates.

Yang Ming Marine Transport: According to the article, Yang Ming Marine Transport is part of the Premier Alliance, along with ONE and HMM. The Premier Alliance has responded to soaring shipping demand by adding a new service and upgrading two existing ones on the China-U.S. transpacific route to help restore capacity during the recent export surge.

Maersk: Ding Zejuan, Maersk’s Greater China president, said export volumes surged after May 12, causing missed bookings and rolled containers due to slow vessel redeployment. Maersk is clearing backlogs and will strictly control slot availability to prevent overbooking. Looking forward, Maersk’s capacity plans depend on demand strength and the pace of vessel redeployment. The company will adjust capacity gradually, staying agile to market changes.

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What Happened When

April 25, 2025：: At the height of tariff uncertainty, shipping rates to the West and East Coasts stood at $2,141 and $3,257 per FEU respectively.

After May 12, 2025：: According to Maersk's Greater China president, the volume spike began, leading to missed bookings and rolled containers due to slow vessel redeployment.

Week of May 19–25, 2025：: Export volume to Americas increased 49.4% to 59,000 TEUs at Shanghai International Port Group; all suspended transpacific sailings resumed, weekly service levels returned to 42 sailings.

Friday (most recent reporting date, contextually after late May 2025)：: Shanghai Shipping Exchange's Containerized Freight Index (SCFI) surged by 30.7% week-on-week to 2,072.71 points, with rates from China to America’s West Coast jumping 57.9% and East Coast rising 45.7%.

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