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Tariff-fueled surge in container shipping rates shows signs of peaking

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June 5, 2025

Container shipping rates continued their climb this week, fueled by the temporary tariff pause between the U.S. and China, but there are signs that demand underpinning the surge is moderating, financial analysts and maritime consultants said.

Reuters

Ocean vessels transport more than 80% of goods traded globally. Hulking container vessels operated by companies like MSC and Maersk ferry toys and apparel to Walmart stores and parts to factories run by major manufacturers such as Ford Motor Co. Off-contract spot rates for moving container cargo are seen as a gauge of economic conditions.

Maritime consultancy Drewry on Thursday said its World Container Index jumped 41% week-over-week to $3,527 per 40-foot container (FEU). The index was up 70% in the last four weeks, spurred by the May 12 U.S.-China trade truce that cut China tariffs to 30% from the 145% rate that collapsed trade between the world’s two largest economies.

Freight rates from Shanghai to Los Angeles, home to the busiest U.S. seaport, surged 57% to $5,876 per FEU in the past week and 117% since May 8, Drewry said. That rate is down 2% from a year ago and well below the $10,000-plus rates seen during the height of the Covid supply chain crunch.

The closely watched Shanghai Containerized Freight Index, which tracks spot rates from the world’s busiest container port in Shanghai, is on track to report another gain this week, Jefferies shipping analyst Omar Nokta said in a client note.

The underlying SCFI route to the U.S. West coast was $5,172 per FEU last week and the latest spot rates are closer to $6,000, Nokta said.

Still, those rates may be peaking as quotes for the second half of June are closer to the $5,000 to $5,500 per FEU range, he said.

Drewry’s Container Forecaster expects demand to weaken again in the second half of this year, which would cause rates to fall again.

The volatility and timing of rate changes will depend on the outcome of legal challenges to Trump’s tariffs and on capacity changes related to the introduction of port fees on Chinese ships, Drewry said.

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Italy opens menswear show season with Pitti Uomo, Milan Fashion Week

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Nicola Mira

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June 13, 2025

Italy is about to get the menswear show season under way amid widespread uncertainty caused by the complex economic situation. On the agenda, two unmissable events: Pitti Uomo, scheduled on June 17-20 in Florence, and Milan Fashion Week Men, on June 20-24. This season more than ever, these two events dedicated to the 2026 Spring/Summer collections are relying on major international names to energise their programmes, with Issey Miyake and Paul Smith top of the bill.

Dolce & Gabbana (shown here, a look from last winter), Prada and Armani will be the only top Italian labels to show in Milan this season – world.dolcegabbana.com

Pitti Uomo’s 108th edition will showcase nearly 750 exhibitors, 43% of them from outside Italy, compared to 770 in January 2025 and 790 in June 2024, as well as a plethora of international events and initiatives. The stars of the show will include Tommy Hilfiger, returning to Florence after an eight-year absence with a new menswear project, and Homme Plissé Issey Miyake, the guest of honour.
 
Pitti Uomo is looking to generate fresh energy with no less than four guest designers, as opposed to two in January. Italian designer Niccolò Pasqualetti, South Korean label Post Archive Faction (PAF), and Children of Discordance, a Japanese label, will be showing alongside Issey Miyake.

A further spotlight on international design will be provided by the new Code Korea project, set up in partnership with the Korea Creative Content Agency; the presentations by the Scandinavian Manifesto collective, in partnership with Copenhagen’s CIFF trade show; J Quality, a section dedicated to Japanese craftsmanship; China Wave, showcasing the best of contemporary Chinese men’s fashion selected by the Chic trade show and China’s National Garment Association; and finally, a selection of Spanish labels promoted by ICEX. Not to mention the 25 French labels that will exhibit, most of them backed by Promas and French public body DEFI.
 
In its forthcoming summer session, Pitti Uomo will also focus on sport, simultaneously staging Becycle, the cycling industry event first introduced in June 2024. Cycling-related brands great and small will exhibit at Becycle, including Colnago, Passoni, Ashmei and Pas Normal Studios. Becycle will be part of the show’s entirely redesigned ‘I Go Out’ section on contemporary outdoor apparel and equipment.

Paul Smith will be showing in Milan this season
Paul Smith will be showing in Milan this season – ©Launchmetrics/spotlight

This season’s edition of Milan Fashion Week Men will be rather low-key, clearly feeling the impact of the global geo-political and economic crisis. It will feature 81 events, including 44 presentations, 17 special events and 15 runway shows, plus five digital shows that will be streamed on the week’s final morning, on Tuesday, June 24. Only three among Italian fashion’s leading names will feature on the Milanese calendar this season: Dolce & Gabbana, Giorgio Armani and Prada, while Zegna will be showing in Dubai, and many other labels have opted to present their menswear collections with womenswear at the September fashion week.
 
Some emerging labels that have made their mark on the Milanese fashion landscape in recent years will also give this edition a miss, like Magliano, which is replacing its habitual show with a movie screening, JordanLuca, and Indian designer Dhruv Kapoor. Milan will however rely on four ‘new’ names to freshen up the calendar, starting with British label Paul Smith, which is quitting Paris this season to show at its Milanese showroom on June 21.
 
The other new entries on Milan’s menswear programme are Setchu by Japanese designer Satoshi Kuwata, winner of the 2023 LVMH Prize, which will kick off proceedings on Friday, June 20; long-standing Italian label Fiorucci, in the midst of a major relaunch; and Qasimi, the menswear label by Hoor Al Qasimi, originally from the UAE.

Two comebacks worth mentioning are those of Vivienne Westwood, which will stage a presentation, and Spanish designers Miguel Vieira and David Catalán, showing on Monday, June 23. The same day will end with the first runway show by French designer Emma Rowen Rose with her baroque-chic, made-in-Italy label Rowen Rose, which is set to launch a menswear line on this occasion.
 
Before passing the baton to Paris, Milan Fashion Week will be enlivened by a few big parties, including those celebrating Dsquared2’s 30th anniversary and Jacob Cohen’s 40th.

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Champion signs multi-year deal with Irish ‘boxing great’ Katie Taylor

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Global sportswear brand Champion has widened its association with combat sports, signing Irish fighter Katie Taylor to a multi-year deal. The association has been sealed ahead of the bell ringing for her highly anticipated third bout in the series against Amanda Serrano at Madison Square Garden, airing live on Netflix on 11 July. 

The link’s understandable, given Taylor’s “a force in the ring… becoming synonymous with grit, greatness, and unshakable belief and is considered by many to be the greatest female fighter of all-time”, says Champion.

​And there’s another good reason for the association: the second bout in the trilogy drew 74 million viewers globally.

To accompany its support, the brand has lunched a limited-edition ‘KT’ Reverse Weave T-shirt “which pays tribute to her extraordinary career”, as well as a bespoke fight kit and team gear for the Serrano encounter.

The associated apparel line also includes the launch later this year of anext-generation combat sports range… shaped by deep collaboration and insights from Taylor”

Following Champion’s signing in May of UFC Heavyweight Champion Tom Aspinall, the latest collaboration “supercharges Champion’s commitment to the world of combat sports, a space defined by discipline, intensity, and the relentless pursuit of excellence”.

Champion’s association with the sport is long-standing and claims “the invention of the hooded sweatshirt”, as well as “pioneering mesh nylon jerseys for football players… Champion has consistently delivered functional, performance-driven gear rooted in athlete insight. Many of these innovations have transcended sport to become cultural icons”.

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White Stuff to open store in Lyme Regis

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White Stuff’s heading to Lyme Regis, Dorset, for its latest (19 June) opening. Showcasing the womenswear brand’s latest summer collections, the 1,300 sq ft store join’s the seaside town’s high street, creating seven new local jobs.

White Stuff

The brand, which says it offers “unique designs, commitment to sustainable fabrics, and community spirit”, said the latest store continues its UK retail expansion strategy and is the fourth of several planned openings this year.

Previous openings were in Broughton Shopping Park, Dalton Park and Eastbourne last month while the brand also opened a travel-specific store ahead of the summer season at London Gatwick airport.

And to celebrate its 40th year, the British lifestyle label delved into its archive to launch a 17-piece collection called ‘Rewind ’85′. 

Area manager Jacqueline Powley, said: “Located on the historic Jurassic coast, this new location marks an exciting next step.”

White Stuff currently operates 117 stores and 49 concessions (including John Lewis and M&S) across the UK serving 1.3 million omnichannel customers a year. The brand also sells internationally via its website and has 606 wholesale stockists (178 in the UK and Northern Ireland and a further 428 internationally).

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