Ocean Freight Import Market Update Post-Chinese New Year

The weeks and months leading up the Chinese New Year celebration are often some the busiest, and priciest periods in the ocean freight calendar, as importers are ordering significant volume in preparation for the factory shutdowns.

It is often not until after their holiday period that freight rates decrease, and demand normalizes.

However, the global ocean freight industry this year is navigating a complex landscape influenced by significant geopolitical and economic events that could create a depressed market for ocean freight imports moving forward.

How Will the Ocean Freight Import Market Look After Chinese New Year?

Historically, freight rates experience a decline after CNY due to decreased demand. For instance, in previous years, rates from Asia to the U.S. West Coast have decreased by as much as 46% in the months following CNY.

In 2025, the rate drop could be comparable to that because of the aforementioned historical trend, and several macro factors, including:

• Tariffs on Chinese Goods: As of February 4, 2025, the United States has imposed a 10% tariff on all imports from China.
• Economic Slowdown: Global economic indicators suggest a potential slowdown, prompting businesses to adopt a conservative approach to restocking and expansion.
• Supply Chain Realignments: Companies are diversifying supply chains to mitigate risks, leading to shifts in traditional trade volumes and routes.

The post-CNY period traditionally experiences a drop in rates, and the on-going macro is impacting other aspects of supply chains, leading to a chance at a decrease in spot rates in the coming weeks and months.

Businesses should closely monitor market developments, assess their supply chain strategies, and remain adaptable to navigate the evolving landscape.

Overseas Container Logistics (OCL) is a 3PL commercial freight-forwarding company based in Richmond, British Columbia. 

If you have any questions about this article or would like to talk to us about your transportation and freight needs, give us a call at 604-295-8236.