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Are spot rates sinking due to alliance reshuffle or US tariff chaos?

  • Asia-US spot rates continue to fall much faster than Asia-Europe spot rates
  • Container lines could be seeking to maintain market share as new alliances are set up, sacrificing rates in the near term
  • National Retail Federation lowers 2Q25 US import forecast amid rising tariff threat

Container shipping’s tariff exposure is rising and looks set to become much worse in April. Falling spot rates could be a leading indicator of lower US imports in the months ahead, or they could be an artifact of the global restructuring of carrier alliances that is now at its most disruptive stage

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