Container shipping rates have reached their lowest level since the end of 2023, according to an update from the freight platform Freightos on October 15. Global trade concerns, a decline in U.S. imports combined with shipments being brought forward—before tariffs take effect—and a growing supply of ocean freight have pushed down the price of container freight between Asia and North America by 8 percent week-over-week, according to Freightos.
In its report, Freightos notes that while the trade war between the U.S. and China and a decline in U.S. imports are having a significant impact on ocean freight rates, the main driver behind the falling rates is the growing capacity of container ships. A large number of new vessels entering service is putting pressure on prices and resulting in overcapacity, which is projected to peak in 2027. In 2025, the ocean freight market was characterized by high volatility. In January, the market received a boost, but by March, global rates had already fallen by 24 percent month-over-month, reaching their lowest level since 2024. In August, container shipping volumes reached a new monthly record, defying predictions of a slowdown. However, the key Asia-North America trade route saw a 12.3 percent year-over-year decline in volume. In summary, it is noted that container freight rates have fallen sharply over the course of the year but remain significantly higher than the levels seen in 2019, before the pandemic.
The Freightos Baltic Index (FBX) is a global index that measures and reports container freight rates based on spot rates for 40-foot containers on 12 key trade routes. The index is a transparent and widely used benchmark employed by logistics providers and for derivative contracts, and it provides a general indicator of the shipping market.
