Freight rates from Sri Lanka to US to rise
As the demand for goods from Sri Lanka to the US is expected to boom with the US Federal Court blocking all existing tariffs imposed on countries across the board, freight rates are expected to rise up to US$ 4500 to $5000 per 40-foot container, through June/July 2025 from Colombo, Nilud Fernando, a professional in international shipping and logistics, told The Sunday Times Business.
He said, “We have been monitoring the global trends, the developments that unfolded in the shipping industry since US President Donald Trump imposed reciprocal tariffs on countries in the region. With the 90-day grace period set to expire in the next few weeks, the US Federal Court has blocked all tariffs imposed by the US President, although the effective dates of the decision are precisely not mentioned yet.”
There is a sudden surge of volumes in shipping vessels from the Far East and China to the US, as exporters from these regions are applying a ‘watch’ policy to see the possibilities on the horizon with alternate options in hand. All these assorted developments have invited shipping lines to manage their vessel capacity in the midst of growing demand starting early June 2025 in niche trade lanes, he added.
He also mentioned that the Asia and Europe trade routes are seeing a freight rate increase due to increasing costs passing via Cape of Good Hope and due to trade union actions of some of the European key ports. Some carriers have recently dropped its rates to unprecedented levels, making carriers earning lower levels.
Asia to US trade sees capacity tightness and rates respond upward due to a base flat tariff of 10 per cent, in the event said taxes sees zero levels. “We are expected to see more market dynamics similar to that of the Red Sea circumstances in 2024 and these domino effects are already being felt across major trade lanes currently. Freight rates are expected to rise up to $4500 to $5000 per 40-foot container through the months of June/July 2025 from Sri Lanka to the US,” he noted.
Meanwhile, some major carriers are returning to the Suez passage although there is no firm guarantee that rebels would not attack ships.
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