North America Container Rates Drop Below $2,000 – The Impact of Tariffs?

Container shipping rates to North America’s West Coast have fallen below $2,000 for the first time since December 2023.

The decline is driven by lower demand, partly due to tariff concerns.


Here’s an overview of the latest trends and their impact on global logistics.

Current Shipping Rates

As of March 14, 2024, the Shanghai-to-North America West Coast rate for a 40-foot container dropped to $1,965, reaching its lowest level in 15 months.

The East Coast rate also fell below $3,000, marking a one-year low.

Why Are Rates Dropping?

One major factor is the decrease in shipping demand. U.S. importers stocked up before potential tariff hikes, leading to reduced orders now.

This has directly impacted container rates.

Market Differences

While North America’s rates are falling, Shanghai-to-Australia routes have seen a 16.9% rate increase.

This highlights how supply and demand vary by region.

With the ongoing changes in global trade, all eyes are on future shipping trends.