International Maritime
from forwarders has been very strong this year ,” Liu said . “ With demand slowing , everybody is hungry for the goods and shipping lines need to fill their capacity , so there will for sure be a price war .”
Average short-term rates from Asia to North Europe fell to $ 3,242 per FEU in the week of Feb . 13 , down 35.7 % from the end of December and 27.3 % from the same week last year , according to rate benchmarking platform Xeneta . While the decline has been less severe on the Asia – Mediterranean trade , the mid-February average spot rate of $ 4,473 per FEU was down 23.2 % from the last week of 2024 and 18 % year over year .
Red Sea front and center
There is little clarity into how rates will perform after the Lunar New Year and widespread uncertainty into when carriers will resume shorter Suez Canal transits , but the Red Sea was very much on the minds of Asia – Europe cargo owners who spoke to the Journal of Commerce at the end of January .
“ Our annual contracts are not yet closed , but for sure there is a sentence in the agreements that in case
Asia – Europe contract rates rise from 2024 levels
Average container spot rates from Asia to North Europe , pricing in long-term contracts and in long-term contracts signed in the last three months
USD per FEU
$ 8,000
$ 5,7 6,000 763
0 $ 10,000 $ 4,000
$ 2,000
Source : Xeneta
$ 0 L Mar , 2023 Jul Jan 2024 Jul
Jan 2025 Short-term rates Contract rates signed in last three months Contract rates
of a significant market change , both parties must go into renegotiations ,” according to the logistics director at a European retailer .
© 2025 S & P Global
L complementing existing liner services ,” Hauswald said in a statement Jan . 26 , adding that JadeWeserPort was fast developing as a regional hub with a hinterland rail network reaching as far inland as Budapest .
Wilhelmshaven is also one of the hubs
for the new Gemini Cooperation alliance between Maersk and Hapag-Lloyd that launched on Feb . 1 . It is Germany ’ s only deepwater port that is not affected by tidal flows that can limit access of large container ships .
Most of the world ’ s ocean carriers continue to divert their ships around southern Africa , a route that takes about 45 days from China to North Europe , despite recent pledges by the Houthi that attacks will now be limited to ships affiliated with Israel .
Ocean carriers are closely monitoring the situation in the Red Sea , with CMA CGM noting that despite the positive progress toward stability in the region , the fragile nature of that stability meant it was not yet possible to end diversions around Africa .
“ Given the ongoing tensions and associated risks for commercial vessels in certain areas , CMA CGM will for the time being continue to prioritize alternative routes , including a significant reliance on passage via the Cape of Good Hope ,” CMA CGM said in a customer update .
However , the carrier did not completely close the door on Red Sea transits . “ While this approach applies to the majority of our network , adjustments may be made on a case-by-case basis depending on security and global operational conditions ,” it said .
email : greg . knowler @ spglobal . com www . joc . com March 3 , 2025 | Journal of Commerce 33