RENO, Nev., May 22, 2025 (GLOBE NEWSWIRE) — ITS Logistics released the May ITS Supply Chain Report, revealing that the ongoing down freight market combined with tariff volatility continues driving high market turnover. Carrier exits reached a 12-month high, while new carrier authorities jumped by 48% month-over-month and 30% year-over-year.
“Spring is typically when the spot market sees more carriers join, and last month was no exception – despite larger freight market trends,” said Josh Allen, Chief Commercial Officer at ITS Logistics. “Rates saw marginal movement for both reefer and dry vans, reflecting soft demand in key seasonal industries like food service and home construction. However, a forthcoming import surge from China could put upward pressure on capacity — at least in the short term.”
Due to the U.S. agreeing to lower the base level of tariffs on most Chinese goods to 30% from 145%, while China confirmed it would cut its levies on U.S. products to 10% from 125%, importers are urgently shipping cargo across the Pacific during the three-month trade war lull. As a result, ocean carriers are expected to raise that rate by as much as 50% by next week, leading to major carriers quoting rates for sailings through the end of May at about $900 per TEU higher than last week.
Despite surging container rates, an anticipated rebound of Chinese import volume …