Tariff Truce Spurs a Slow-Burn Surge in Transpacific Freight Rates

Global Shipping Rates Rise for 3 Consecutive Weeks Amid U.S.-China ‘Tariff Truce’

​Containers are piled up at Busan Port's Shinseondae, Gamman, and Shingamman Piers. (BusinessKorea DB) Global shipping rates have risen for three consecutive weeks, recovering to the 1500 level for the first time in 12 weeks. This is attributed to the U.S.-China tariff truce and the entry into the peak season. According to the Shanghai Shipping Exchange (SSE) on May 23, the Shanghai Containerized Freight Index (SCFI), which indicates the level o…

Tariff Truce Spurs a Slow-Burn Surge in Transpacific Freight Rates

Container spot freight rates on the transpacific continued to trend upwards this week, albeit at a far gentler pace than last week’s GRI-induced double-digit growth, as carriers rushed to return capacity in anticipation of at least a short-term demand bounce.