Container rates surge on early peak season, but staying power in doubt

• Freight rates have surged across major trade lanes, driven by frontloading ahead of US tariffs, rising bunker costs, and tight vessel capacity
• Asia-Europe rates continue to climb, with carriers prioritising spot market bookings over contract customers and planning further rate hikes through June and July
• Signs of fatigue are emerging on transpacific routes, with vessel slots becoming more available and some shippers adopting a wait-and-see approach