New Tariffs Incoming: TPEB Rates Hold Steady While FEWB Demand Rises

Trends to Watch: Tariff Countdown Begins

The countdown is on — April 2, 2025, marks the day President Donald Trump’s new reciprocal tariffs are set to take effect.

Per Treasury Secretary Scott Bessent, each trading partner will receive a "reciprocal tariff number" based on tariffs, trade barriers, currency policies, and more.

Until proper systems are in place, Canadian and Mexican goods will continue receiving de minimis treatment — meaning no duties on low-value imports, for now.

Stay tuned to our live blog for real-time updates on tariff changes and trade policy shifts.

Ocean Freight Market Snapshot

Trans-Pacific Eastbound (TPEB)

Demand: March demand has remained flat post-CNY; projected growth hasn’t materialized.

Capacity: Stable, with utilization above 80% into April.

Equipment: Supply is strong across most origin ports.

Rates: Floating market rates have stabilized. Carriers have announced April GRI. Most have removed Peak Season Surcharge (PSS) for March.

Far East Westbound (FEWB)

Demand: Slight increase in booking activity. Space is available, but rolling cases persist.

Capacity: Stable with no new blank sailings. Congestion at Rotterdam causing minor delays.

Equipment: Generally sufficient, though some carriers are substituting 40’ containers with 40HCs, which are restricted in Rotterdam. If assigned a 40HW, request a suitable exchange at the yard.

Rates: SCFI dropped due to rollback of March GRI. April GRI announced, but success will depend on late March volume. Flexport recommends shipping early to avoid possible rate hikes.

Trans-Atlantic Westbound (TAWB)

Demand/Capacity: Reduced blank sailings expected to bring stable capacity. South Europe ports (Piraeus, Mersin, Valencia) facing congestion.

Equipment: Ongoing shortages in Central Europe (Austria, Slovakia, Switzerland, Hungary, parts of Germany). Carrier haulage is advised. Southern Europe currently has no major equipment issues.

Rates: North Europe PSS canceled due to flat demand. In contrast, West Mediterranean carriers are pushing for April PSS ranging from $700–$1,000 per 40ft container due to sustained demand.

Air Freight Update (Week 10: March 3–9, 2025)

Global Trend: Market held steady week-over-week, with a +2% year-over-year increase.

Asia-Pacific Recovery: Chargeable weight up +5% WoW, returning to mid-January levels. Notable increases from China, Hong Kong, Japan, Taiwan, Thailand, and Singapore.

Rates:

Asia-Europe spot rates fell -3% WoW but remain +20% YoY.

China/Hong Kong to US stable at $3.78/kg.

Global average rate rose to $2.33/kg (+5% YoY).

Overall spot rates steady at $2.55/kg (+8% YoY).

Middle East & South Asia:

Demand down -4% WoW, possibly due to Ramadan.

Dubai-Europe tonnage dropped -15% following previous week’s -17%.

Spot rate decreased -12% to $1.88/kg.