International shipping & International railway. From China's main ports to ports in Europe, Southeast Asia, the Middle East, Pakistan, etc. International Railway: International Railway LCL from China to Europe; China (Xiamen)-Alataw Pass - Kazakhstan, Uzbekistan, Kyrgyzstan, Tajikistan and Turkmenistan; International sea-rail intermodal transport: Southeast Asian countries - transit in Xiamen - Moscow, Europe and Central Asia. Sea-rail intermodal transport: Japan, South Korea - transit in Xiamen - Moscow, Europe and Central Asia.

Container spot freight rates on the main east-west trades diverged this week after a series of rate hikes held on the transpacific trades, but failed to arrest the continued declines seen on Asia-Europe sailings.

This week’s World Container Index (WCI) from Drewry saw both the Shanghai-Los Angeles and Shanghai-New York legs register week-on-week spot rate increases, while this week’s Shanghai Containerised Freight Index (SCFI), which records quoted rates, suggested that further pricing gains ought to be expected next week.

Notwithstanding the noise around US tariffs, this week’s WCI Shanghai-Los Angeles recorded spot rate increased 10% week on week, to reach $2,726 per 40ft, thus reversing uninterrupted rate declines seen on the route since 9 January, when it stood at $5,476 per 40ft

Meanwhile, the SCFI’s Shanghai-US west coast base port route increased 6% week on week, to today stand at $2,313 per 40ft – last week, the SCFI rate on the same route grew 16% week on week, while the WCI’s Shanghai-Los Angeles shed 6%, indicating the spread between the two indices can be extremely volatile.

The WCI’s Shanghai-New York’s spot rate increased 8% week on week, to $3,894 per 40ft – it too has been continually losing ground since the 9 January high point of $7,085 per 40ft.

This SCFI’s Shanghai-US east coast base port grew 8.5% to $2,580 per 40ft.

Drewry attributed this week’s rebounding rates to a combination of reduced capacity and 1 April general rate increases introduced by carriers.

“Rate stabilisation may be influenced by GRIs and MSC’s blanked sailings, though capacity adjustments vary across alliances.

“Of 57 planned cancellations [globally] over the next five weeks, 30 are on transpacific routes, with 15 from MSC and the Ocean Alliance, while Gemini has yet to announce any,” it explained.

Of course, demand has also remained strong from US importers keen to get goods into the country before new tariffs come into force, although that will likely have ramifications later, said Freightos head analyst Judah Levine.

“With the reciprocal tariffs not being applied to goods loaded before 9 April, we may see a very brief scramble that will push container rates and demand up for the next few days.

“After that though, many importers who’ve built up inventory are likely to be able to reduce or pause orders and shipments until the tariff dust settles.

“This move will see container volumes and rates drop, possibly significantly, soon and could be one factor that will cause a very subdued peak season period this year,” he explained.

One large UK forwarder told that some of its major shippers had “requested that all US-bound shipments on both transatlantic and transpacific be halted until they ask, ‘what the fuck’s going on’”.

Meanwhile, spot rates remained weak on the Asia-Europe trades with the WCI’s Shanghai-Rotterdam leg shedding 3% week on week, to end at $21,304 per 40ft, while the SCFI’s Shanghai-North Europe base port was essentially flat, at $2,672 per40ft.

The WCI’s Shanghai-Genoa leg was down 4% week on week, to $3,031 per 40ft and the SCFI reading for the route declined 2.5%, to $4,056 per 40ft.

Overcapacity on both trades appears to be a growing problem – while rates were always expected to decline post-Chinese New Year, the steepness of the descent has surprised analysts.

“Container freight rates have a strong seasonal tendency to weaken in the period following Chinese New Year. In 2025, however, the decline in spot rates is significantly more negative, than what can be explained by just seasonality,” said Sea-Intelligence Consulting chief executive Alan Murphy.

“This could be the result of an aggressive commercial price war between shipping lines, potentially due to the switch-over to the new alliances, a weakening of the supply/demand balance, or a combination of both,” he added.

According to its data, in the eight weeks since Chinese New Year, capacity on Asia-North Europe has grown 27% year on year.

“Especially for Asia-Europe, it is clear that a highly significant capacity growth is a key parameter in explaining the current spot rate weakness,” Mr Murphy said.

Shippers exasperated with the constant flip-flops in the Trump administration’s trade policy have agreed to transpacific shipping contracts at slightly higher rates than last year.

Linerlytica’s report this week stated that the contract rates were $200/40-foot unit higher than last year.

The contracts include provisions for surcharges should the US Trade Representative’s office succeed in imposing hefty port fees for Chinese-built ships and operators with such vessels in their fleet. This is despite the uncertain outlook for cargo volumes.

Market sources told that any port fees could only be implemented by about November, as the implementation will take six months, given the need to study findings from the public hearings last week.

However, ship owners and operators are covering themselves first by making provisions. Tonnage providers are adjusting their contracts to make it clear that any port fees must be borne by the charterers.

On Friday, the Shanghai Containerised Freight Index showed that Shanghai-US West Coast rose 16% from 21 March, to $2,177/40-foot unit, and the Shanghai-US East Coast rates gained 11%, to $3,194/40-foot unit.

The halt in the sliding rates was attributed to liner operators implementing GRIs on 1 April, and MSC blanking several transpacific sailings.

Linerlytica said: “Weariness over constant changes in US trade policy have pushed shippers to conclude the new transpacific contracts with a small increase over last year’s contracts including provisions for surcharges to cover the proposed levies on Chinese-built ships calling at US ports.

“However, the outlook remains uncertain with cargo demand in March failing behind last year’s level as the weakness is expected to persist for the rest of this year.”

Management at Taiwanese operators Wan Hai Lines and Yang Ming have already stated that they were certain of securing higher transpacific contract rates, citing the unsteady Israel-Hamas ceasefire that would ensure continuous vessel detours round the Cape of Good Hope.

While transpacific rates could rise further, cargo volumes remain uncertain, as hopes of a post-Chinese New Year uptick have faded.

Current projections suggest full-year container volumes will drop by 1.1% in 2025, as the muted cargo demand is expected to last through the usual third-quarter peak season.

The demand outlook for the rest of this year remains uncertain, especially when US president Donald Trump will unleash additional undisclosed tariffs today.

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The Singapore-Rotterdam partnership has seen the first indications that its Green and Digital Shipping Corridor (GDSC) is coming to fruition, with shared bunkering procedures for methanol and bio-methane, and inter-port standardisation for port calls and electronic bills of lading (eBLs).

The two ports collaborate on matters of safety, such as bunkering procedures for new marine fuels, as well as in the digital aspect, adopting shared standards for eBLs and port call optimisation.

Recently at Rotterdam, Shell supplied 100 tonnes of mass-balanced liquefied bio-methane to CMA CGM Tivoli. The move illustrates the possibility of bunkering the now inordinately LNG-fuelled newbuild fleet with a cleaner, but chemically identical, form of LNG, derived from waste-based feedstocks.

Bio-methane, also known as bio-LNG, is generated using methane given off by landfill, sewage, and agricultural slurry, which is able to be harnessed as ship fuel. While bio-methane cannot deliver a 100% CO2 emissions reduction, as a fuel derived from anthropogenic sources of waste, it can help offset oil and gas extraction by harnessing a source of methane which existed at any rate.

The GDSC was established in 2022, when ‘green corridors’ were a relatively new concept. Since then, some 62 have been established.

“We have brought together 28 partners from across the whole value chain of shipping between Singapore and Rotterdam,” a port of Rotterdam spokesperson told. “It’s about defining the standards we can all follow to replace fossil fuels with sustainable fuels.

“These two ports are the number-one and -two bunkering ports in the world, so it’s logical they work together to find solutions.”

Without standardised definitions, ports have little prospect of performing the necessary data exchange and inter-port communication required to enable just-in-time arrival. For example, ports disagree on what is defined as ‘arrival’. This has spurred IMO action in respect of a Maritime Single Window (MSW), which would standardise these definitions.

“We also want to make shipping more efficient, that’s the digital part of it,” the spokesperson added. “So, for instance, when a ship knows exactly when it can make a port call, it can sail as efficiently as possible, reducing the use of fuel.”

One organisation tasked with defining these standards is the Digital Container Shipping Association (DCSA), the same entity that is standardising eBLs, which serve as another component of the GDSC.

Meanwhile, in February, Brazil signed a green corridors agreement with Norway, a trading partner for aluminium oxide, fish, fertilisers, and animal feed. Both countries benefit from sufficient hydro-electric generation to power the majority of their grids.

“We seek to build a sector that combines economic development and environmental responsibility, positioning Brazil as a reference on the global stage,” said Brazil’s minister of ports and airports, Silvio Costa Filho.

But of those 62 green corridors, just six have reached what the Global Maritime Forum describes as a ‘pre-commercial’ phase of development. On the other hand, initiatives such as the Nordic Roadmap, US-Republic of Korea corridors, and the Decatrip project are on hold, Global Maritime Forum notes in its 2024 annual progress report on green shipping corridors.

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The Port of New York and New Jersey started 2025 with strong growth in total volume and imports.

In particular, the US port handled 720,747 TEUs in January, which represents an 8% increase compared to the same month last year. Imports showed a 10.5% growth over last January's numbers, totaling 378,632 TEUs, while exports reached 98,706 TEUs, translating to a 5.7% decrease.

Additionally, export empties increased by 11% in January, totaling 241,751 TEUs, and import empties tell by 15.1%.

Meanwhile, the Port of New York and New Jersey recorded a slight (1%) rail volume decline from last January's figure, totaling 52,487 containers, while the 23,241 autos that moved through the Port in January represented a 14.5% decrease compared to the previous year.

Wan Hai Lines GM Tommy Hsieh is positive about achieving higher transpacific contract rates this year.

Yesterday, following the unveiling of the Taiwanese operator’s 2024 results, Mr Hsieh said with the breakdown of the Israel-Hamas ceasefire, diversions round the Cape of Good Hope would continue.

He added: “Freight rates are lower today because demand is sluggish. As long as demand recovers, the shortage of shipping supply will still surface.

“Based on our discussions with customers, they can accept an upward adjustment of 20% to 30%.”

Wan Hai’s revenue rose 61% year on year, to $4.93bn last year, bringing a record $1.44bn net profit, following a $175.5m loss in 2023.

Drewry estimates container shipping supply will rise 4.9% this year, compared with 2.8% for cargo demand.

Mr Hsieh said: “The uncertainty of trade policies continues to affect the imports and exports between countries and regions. We will review movement in market demand to adjust our routes and vessel deployment.”

He also allayed concerns about US president Donald Trump’s plan to impose hefty port charges on operators with Chinese-built ships. Mr Hsieh said: “Just 10% of Wan Hai’s fleet was built in China, and these are mainly assigned to our intra-Asia services. The company does not deploy any Chinese-built ships on its transpacific services.”

He added that Wan Hai would take delivery of three 13,000 teu ships this year and will use these to expand its long-haul routes.

Between 2026 and 2030, Wan Hai will take delivery of 30 newbuildings, comprising eight of 16,000 teus, 20 at 8,700 teu, and two 7,000 teu ships, indicating the carrier’s bullishness on the long-term prospects.

However, none of these vessels is under construction in China, the orders being spread around shipyards in South Korea, Japan, and Taiwan’s CSBC.

MSC is flawlessly emulating dethroned rival Maersk’s old strategy by aggressively expanding its fleet and terminal network, according to Linerlytica analyst Tan Hua Joo.

Mr Tan was speaking at the Navigating the Volatility of Container Freight Rates conference in Singapore today.

As container freight rates rocketed to historical highs during Covid, MSC grew its fleet with newbuildings and second-hand vessels, while Maersk did the opposite, betting on an integrator strategy, reinventing itself as a comprehensive end-to-end logistics provider.

Mr Tan noted that with a fleet size exceeding 6.44m teu, MSC has built a large lead over Maersk, the former market leader’s fleet now just over 4.5m teu.

From having 80% of its fleet chartered, back in 2020, MSC’s ratio of chartered vessels now stands at 25% – the Swiss-Italian liner having increased its owned fleet to more than 400 ships.

Mr Tan said: “MSC is following the exact playbook Maersk used, which is to dominate the market, and it’s done it to perfection. Maersk has simply lost at its own game, because it’s not grown since its 2016 acquisition of Hamburg Süd.

“But what MSC is doing has also triggered a strategic response from the rest of the market, because CMA CGM, Cosco, Evergreen, and ONE can’t sit back and do nothing. Because, after all the record profits these carriers earned in these past years, they’re not going to sit on their cash pile. They’re going to spend it and build more ships, and go for this market growth narrative.”

Mr Tan said Maersk was paying a heavy price for its lack of fleet growth, as the Danish line’s Gemini alliance with Hapag-Lloyd was in a weak position, vis-à-vis its rivals in the transpacific space, with just 3m teu of capacity.

The rate of growth MSC has achieved is something completely unprecedented in the history of this industry, and this is going to drive a reaction from the rest of the market, including Maersk, he said.

Last week, The Loadstar reported that Maersk had temporarily increased its fleet to past the 4.5m teu mark, transcending its earlier announced cap of 4.3m teu.

This chase for market share, and very low demolition levels, is effectively perpetuating overcapacity, said Mr Tan, adding: “Everyone is doing the same thing. That’s going to drive a significant level of oversupply, the extent of which we’ve probably not seen before.”

He said that even as it was increasingly likely the Red Sea crisis would continue, it would be hard to avert a correction in freight rates this year.

High newbuilding orders and very low demolition numbers mean fleet growth would be 6%, if diversions continued round the Cape of Good Hope, and 15% if Suez Canal transits resumed.

The Valenciaport Statistical Bulletin reports a significant rise in container traffic with Angola, which surged by 2,200% in tonnes during the first two months of the year.

Trade with Israel also grew by 44.4%, while Algeria saw an increase of 18.7%. Meanwhile, China remains Valenciaport's top trading partner, with 129,724 TEUs exchanged during this period-a 36.44% increase-along with 1,410,867 tonnes of cargo, reflecting 29.43% growth.

The export sector continues to show positive momentum at the Spanish port, as full container cargo traffic leaving Valenciaport for international destinations increased by 5.4%. According to the February Statistical Bulletin, full TEU traffic grew by 9.9% that month. Unloading operations surged by 29.9%, and transit container movements rose by 4.15% in the cumulative total for January and February.

In the first two months of the year, companies operating through Valenciaport handled 12.51 million tonnes, marking $1.35% year-on-year increase. Container traffic reached

863,894 TEUs, reflecting a 10.3% growth.

The Bulletin's analysis also highlights a 0.44% rise in UTI (intermodal transport units) traffic, while TEU transport by rail grew by 4.53%. However, passenger traffic declined by 5.9%, and vehicle traffic dropped by 34.3%.

By sector, Valenciaport recorded growth in non-metallic minerals (28.08%), chemical products (12.17%), construction materials (9.06%), and agri-foodstuffs (2.35%) during the first two months of the year.