It was reported that container freight rates have fallen for 15 consecutive weeks, hitting a 9-month low. However, with the gradual unblocking and resumption of work in various districts of China and the accumulation of empty containers in the US, it may lead to a new wave of port congestion crisis, and freight rates were expected to rebound strongly in May.

It was worth noting that the freight rate from the Far East to the eastern US has been rising for two consecutive weeks before. In terms of monthly performance, the eastern US line rose by 2.25% against the trend in April, which was the only one that rose among the major routes.

In April 2022, the closure and control of COVID-19 in Shanghai severely impacted the shipping market. Container volumes from China bound for the US ports fell to a new low for the year.

The industry predicted that once China restarts shipments, a large number of ships will flood into the ports on the west coast of the US, the waiting time of ships will inevitably be prolonged, the pressure of global port congestion will increase, and the impact will be even more serious than last year.