US import bookings from Asia jumped 10% in a single week and forwarders now need at least three weeks' notice to get a container on a vessel, Kuehne+Nagel said in a market bulletin, as shippers race to land goods before the July 24 tariff deadline.
Why it's spiking: The 10% surcharge imposed in February under Section 122 hits its statutory 150-day limit on July 24 and cannot be extended without Congress. Importers are shipping early to land goods at a known 10% rather than wait to see what replaces it.
Ben Hackett of Hackett Associates, cited in the bulletin, expects the surge to "last into July" with "raised volume rather than a sharp peak."
By the numbers: The bulletin describes capacity from major Asian hubs as "extremely limited," with premium services fully allocated through June.
Carriers are adding ships fast, with planned transpacific capacity climbing from 1.9 million TEU in May to 2.3 million in July. Spot rates moved with the demand: Drewry's World Container Index rose 23% in a week to $3,433 per FEU in its June 4 reading, and has kept climbing since.
The catch: A contract rate no longer guarantees space. Freightos reports contracted shippers already seeing their allocations cut, even though spot rates remain about $1,000 per FEU below the July 2025 peak.
Burlington answered the uncertainty the same day the bulletin published, locking in one-year ocean contracts at "favorable rates," its finance chief told investors.
