Ocean freight rates from Asia to North America are declining as seasonal demand subsides, with rates to the U.S. West Coast falling 7% and East Coast rates down 1% in the week of January 28. Spot rates surged earlier in January due to pre-Lunar New Year shipping but have since dropped to around $5,000 per forty-foot equivalent unit (FEU). Despite the decline, rates remain significantly higher than 2019 levels. Shippers are concerned about ongoing geopolitical issues and potential tariffs, prompting them to frontload cargo as they await more details.

Source: https://www.supplychaindive.com/news/ocean-rates-drop-season-demand-eases-tariff-concerns/738285/