Ocean freight rates and vessel capacity will continue to stay strong in Q1 of 2025, with 2 new alliances forming, Gemini (Maersk and Hapag-Lloyd) and Premier (ONE, YML and HMM).
Gemini and Premier are rolling out new services in February, while Ocean Alliance has announced 3 new transpacific services to be fully deployed by April 2025.
The introduction of these new services is forecast to cause service disruptions, resulting in higher rates and stress in vessel capacity. Carriers are implementing more blank sailings, while vessels transition between the alliances and some voyages will operate concurrently for a few months.
An example of the rate impact is that, effective January 27, 2025, MSC announced an Emergency Operation Surcharge (EOS) of $1,300 US/20 DV and $2,000 US/40 DV-HC container for the Northern Europe to U.S., Puerto Rico and Bahamas trade lanes. This surcharge will apply until further notice as a result of predicted operational disruptions due to the significant changes in the alliance network. It is expected that other carriers will follow suit and implement increases in different forms. It is important that importers take these surcharges into account when completing budgets.
For more information, contact Cathy Fong, Director – Freight Pricing.
