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Transpacific market braces for Chinese New Year shutdown
Air freight rates surged by up to $1.50 per kilogram as shippers rush inventory before a two- to three-week shutdown during the Lunar New Year.
- On Feb. 2, Freight Right Global Logistics reported transpacific air and ocean markets entered peak volatility as the industry nears the Chinese New Year shutdown, with a complete standstill expected by next week.
- Amid threats of 50% tariffs, factories in China are pushing remaining inventory outbound, with Tesla and major e-commerce firms booking outsized capacity earlier, squeezing supply.
- Air freight spot prices jumped into the $5.18-$5.48 per kilogram band, rising about $1.30-$1.50 week-over-week, while container rates for CEA to USWC now sit between $1,600 and $1,650 per container.
- Smaller and medium-sized shippers now face fierce competition for scarce spot space as carriers operate on thin margins, sometimes selling near cost, with a quiet Q1 expected.
- Expect a largely dormant February with a possible March reset depending on U.S. consumer demand and tariff clarity, while space likely remains at a premium through the second week of February.
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The Billings Gazette+28 Reposted by 28 other sources
Transpacific market braces for Chinese New Year shutdown
Freight Right Global Logistics reports transpacific shipping rates drop ahead of Chinese New Year, anticipating a quiet market due to geopolitical tensions and seasonal closures.
·Billings, United States
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Total News Sources29
Leaning Left1Leaning Right1Center25Last UpdatedBias Distribution92% Center
Bias Distribution
- 92% of the sources are Center
92% Center
C 92%
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