DHL Ocean Freight Market Update – February 2025

Tariffs and Lunar New Year holiday lull are in the spotlight for the month of February.

Concerns over potential early implementation of higher U.S. import tariffs leading to a rush in cargo to avoid these tariffs.
As of 1 January 2025, EU ETS increased its coverage of maritime emissions from 40 to 70 percent, leading to a significant rise in the ETS surcharge.
China's exports exceed forecasts ahead of trade tariffs despite export tax rebate cuts.
Global congestion has reached a three-month high (10.3 percent), particularly at Chinese ports before the Lunar New Year, amid concerns over new U.S. import tariffs.
Rates dropping across all trades. The SCFI has decreased by 17 percent, and the WCI by 12 percent since the start of the year.

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