Shipping costs from China to the United States are experiencing a rapid surge, according to new data that highlights both global trade fluctuations and evolving dynamics in Sino-American commercial relations.
The latest report from maritime consultancy Drewry reveals that freight rates from Shanghai to New York have jumped by $704, reaching $4,350 per 40-foot container—a 19% increase . Similarly, rates from Shanghai to Los Angeles rose by $423 to $3,136 per container, marking a 16% climb . In contrast, the New York-to-Rotterdam route saw only a modest $10 increase to $824 per container during the same period.
Drewry attributes the current capacity crunch to recent developments in China-US trade relations, predicting that spot rates on trans-Pacific routes will continue rising in the coming week. While Drewry's composite World Container Index shows an 8% increase to $2,233, this remains 78% below the pandemic peak of $10,377 recorded in September 2021. However, current rates stand 57% higher than the 2019 pre-pandemic average of $1,420.
The year-to-date composite index averages $2,746—$151 below the 10-year average of $2,896 that was inflated by coronavirus disruptions—underscoring the complexity of the current trade environment.
These shipping cost fluctuations represent more than numerical changes; they reflect profound shifts in trade agreements, supply-demand dynamics, and the ongoing restructuring of global supply chains between the world's two largest economies. Analysts suggest these developments warrant close monitoring for their potential ripple effects across the global economy.