A fall in global shipping rates led to a sharp sell-off in the shares of A.P Moeller-Maersk (MAERSK-B:CPH), Hapag-Lloyd (HLAG:ETR), DSV (DSV:CPH) and Kuehne + Nagel International (KNIA:ETR) on 18 September, with broad share price falls of between 5% and 9%.

The sell-off was sparked by news that the Drewry World Container index fell a further 6% to $1,913 per 40-foot container in the week to 18 September, marking the fourteenth consecutive week of decline.

A weakening of demand for US-bound cargo after an initial spike in May resulting from a temporary tariff reprieve, has driven shipping rates lower.

Analyst Kristoffer Barth Skeie at Arctic Securities said: ‘US port volumes are set to ease after a summer spike from front-loading ahead of tariffs and holiday demand.’

Spot rates for the Shanghai to Los Angeles route fell by 4% to $2,561 while those from Shanghai to New York dropped by 5% to $3,571, per forty-foot container, according to Drewry data.

Container rates to the US west coast now sit 56% below their June peak and are 61% below where they started the year.

Analysis by maritime research firm Drewry suggests the supply-demand situation is expected to decline further in the second half of 2025, putting pressure on spot rates and therefore, threatening profitability for the major shipping and logistics companies.

Part of the price decline is related to increased shipping capacity with new vessels entering the market.

‘The volatility and timing of any rate changes will depend on Trump’s future tariffs and on capacity changes related to the introduction of US penalties on Chinese ships,’ which are uncertain, wrote Drewry.

The US announced plans to introduce port fees for Chinese ships in April aimed at countering China’s shipbuilding dominance. The fees, which are due to begin in mid-October will start at $50 per tonne of cargo with fees increasing every year over the next three years.

Vessels moving goods between US ports are exempt as are those shipping goods to the Caribbean and US territories. Meanwhile trade negotiations between the US and China continue with the current truce expected to end on 10 November. 

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