Southeast Asia Freight Rates Rise Above US West Coast as “China+N” Supply Chain Shift Accelerates

Freight rates on China–Southeast Asia shipping routes have surged in recent weeks, in some cases exceeding rates to the US West Coast, driven by ongoing supply chain restructuring under the “China+N” strategy.

According to market quotations, rates from Shanghai to Indonesia have climbed to around USD 2,000 per FEU, while shipments to Vietnam average approximately USD 1,500 per FEU. Freight rates to Malaysia and Singapore have also risen to around USD 1,200 per FEU. During the same period, rates from Shanghai to the US West Coast remained lower, ranging between USD 1,300 and USD 1,500 per FEU.

Data released by the Shanghai Shipping Exchange shows that the Southeast Asia route index increased by 23.3% month-on-month, reaching 1,073.82 points, while the US West Coast index declined by 5.6%.

Industry analysts note that short-haul routes surpassing long-haul routes in pricing is uncommon and largely reflects uncertainty surrounding US trade policies and accelerating supply chain relocation. As manufacturers ship raw materials and semi-finished goods from China to Southeast Asia, demand for regional ocean freight has grown rapidly.

In response to rising demand, carriers have begun deploying additional capacity. In November, Evergreen Marine, Yang Ming Marine Transport, and Wan Hai Lines jointly launched a new direct service from North China to Indonesia, aiming to support growing intra-Asia trade flows.

Market participants expect intra-Asia shipping demand to remain strong, with Southeast Asia’s role in global supply chains continuing to expand over the coming years.

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