Freight rates on the U.S. line have doubled in a single month, shipping space is in short supply across the board, and freight forwarders are ushering in a moment of "grabbing for space and boxes"

Currently, China-U.S. routes are experiencing a rare burst of cabins in recent years, and both freight rates and cabin space have entered a state of extreme tension. The latest data from the General Administration of Customs shows that my country’s exports of goods trade increased by 19.4% year-on-year in May, the highest growth rate in the past three months. According to CCTV Financial Report, the concentrated release of demand has been transmitted to the international freight forwarding sector. Freight forwarding companies in Ningbo, Zhejiang and other places are facing a "space grabbing war" - not only to compete for shipping space, but also to compete for empty containers. According to industry sources, the U.S. route business currently accounts for 70% of the business, and the shipping space has been basically cleared in June. The major ports in East and South China have frequently dumped cargo, and the overall market tension has equaled that of the traditional peak season.

The increase in freight rates is equally astonishing. At the end of April, the freight rate for a 40-foot container from Ningbo to the US West was approximately US,900, and to the US East was approximately US,900. After several rounds of increases, the current quotation in the Western United States is approaching US,300, and the price in the Eastern US is as high as US,500, an increase of more than 100% in one month. Stimulated by high freight prices, the average daily shipment volume of consolidated warehouses around Ningbo Zhoushan Port is close to 80 40-foot containers, and the busyness has exceeded the peak shipment volume before the Spring Festival.

Behind this round of explosion is the superimposed effect of the double squeeze of supply and demand. On the demand side, U.S. retail inventory continues to be low, and replenishment demand is concentrated. Combined with the peak season stocking in the second half of the year and the advance shipment of related products for the 2026 U.S.-Canada-Mexico World Cup, this has further pushed up the demand for space on routes from Asia to North America.

The pressure on the supply side is more prominent. Affected by the situation in the Middle East, more than 300,000 TEU shipping capacity was stranded in the Persian Gulf; the resumption of sailings in the Red Sea continued to be delayed, and ships were forced to detour around the Cape of Good Hope. The lengthened voyage resulted in a significant decline in shipping schedule turnover efficiency. The world's idle shipping capacity has been quickly digested, and Asia's departure ports have even experienced a shortage of empty containers with "cargo but no containers", and the gap between supply and demand continues to expand.

Amid the rush for space, the product structure exported to the United States has also seen a significant upgrade. In addition to traditional electromechanical, textile and furniture products, more high value-added innovative products have become export highlights. For example, orders for liquid cooling cabinets used for data center cooling have been scheduled until the end of August; seasonal cooling appliances such as pet products with sound and light interactive functions, portable air conditioners, and smart slush machines also continue to sell well. Such high-value products require higher transportation timeliness, further increasing the rigid demand for shipping space.

Industry insiders believe that this round of cabin explosion caused by the mismatch of supply and demand has strong phased characteristics. As the concentrated shipment wave gradually eases, freight rates are expected to return to a rational range. But in the short term, foreign trade companies still need to deal with the dual pressures caused by high logistics costs and supply chain fluctuations.