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Shipping Giants Roll Out May 2025 Rate Hikes Amid Tariff Chaos

Surcharge Wave Hits Key Trade Lanes

1. Hapag-Lloyd

• East Asia → North America (May 12):

• 1,000/20′∣1,000/20′∣2,000/40'

• Covered regions: China, Japan, Korea, ASEAN nations

• Asia → Latin America (April 22):

• 500/20′∣500/20′∣1,000/40'

  
  

2. Maersk

• Far East (ex-China/HK) → US/Canada (May 15):

• 1,000/20′∣1,000/20′∣2,000/40'/45'

• China/HK → Kenya/Dar es Salaam (April 21):

• New PSS applied

3. CMA CGM

• China/HK/Macau → West Africa (April 15):

• $150/TEU for dry cargo

  
  

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Market Turmoil Behind the Hikes

• SCFI Index: Edged up 0.1% to 1,394.68 (April 12), but US West Coast rates fell 4.8% as shippers canceled bookings.

• Trump’s "Retaliatory Tariffs": Created a "ship-now" rush followed by abrupt pauses, destabilizing container flows.

• Carrier Calculus: Surcharges aim to offset volatility, but actual implementation remains uncertain with shippers resisting rate hikes.

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Why This Matters:

• Domino Effect: Higher fees could inflate consumer goods prices ahead of Q3 peak season.

• Strategic Pauses: Some importers are delaying shipments until tariff clarity emerges, worsening capacity swings.

"This isn’t normal seasonality—it’s tariff whiplash," noted a Shanghai-based NVOCC. "Every cargo owner is now a tariff gambler."