Market average spot rates – 30 October 2025:
Xeneta analyst insight – Far East to North Europe
Peter Sand, Xeneta Chief Analyst:
“Another uptick in spot rates from Far East to North Europe is expected on 1 November, bringing it on par with the average long term rate on this trade. We also saw spikes on this trade on 1 November 2024 and 1 November 2023 following periods of decline – it could be a coincidence we are seeing that again 2025, but it is more likely carriers using smart capacity management and pushing hard to keep rates up at a critical time of year ahead of tenders for new contracts.
“Shippers must stay on top of these market developments day-in day-out because the recent uptick in short term rates does not necessarily mean long term rates entering validity in 2026 must also rise.”
Xeneta analyst insight – Far East to US
Peter Sand, Xeneta Chief Analyst:
“Average spot rates have increased on Transpacific trades in October and are expected to increase again on 1 November, but this goes against the underlying fundamentals of subdued demand into the US.
“The 12-month trade truce between the US and China announced this week, including the lowering of tariffs and removal of port fees, could prompt some shippers into action but it is unlikely to spark a surge in imports. Many shippers did their work earlier in the year frontloading goods, now inventories are high they will be in no rush to take advantage of lower tariffs.
“Market sentiment is a powerful force, so while the US-China truce may not spark a rush of cargo and further uptick in rates, it could apply some upward pressure to stop rates falling quite so hard in the remainder of 2025.
“Once again, the container shipping industry is having to react to chaotic and unpredictable geo-political games. Removal of port fees is positive news for carriers, but they have already carried out the disruptive work to rearrange services to reduce the financial impact of these new levies – in that sense the damage has already been done.”
Source: Xeneta
