|
The Xeneta Weekly Ocean Container Shipping Market Update provides data and intelligence including the latest freight rate and capacity movements across global trades with supporting insight from Peter Sand, Xeneta Chief Analyst.
Xeneta analyst insight – carriers seize opportunity as freight rates head towards record levels from Far East to US
Peter Sand, Xeneta Chief Analyst:
“Spot rates from Far East to US West Coast and US East Coast are up 324% and 325% respectively since pre-Hormuz crisis at the end of February. That leaves freight rates on these critical trades just 18% and 11% short of the all-time high set during the COVID-19 disruption. With bunker prices pushing fuel surcharges higher, surpassing the pandemic peak cannot be ruled out, which would be an extraordinary market development.
“If a freight rate record is broken, it is most likely to occur on the trade into US East Coast, but even if we do not see a new all-time high, the fact we are even discussing the possibility demonstrates how sensitive critical ocean container shipping trades are to geopolitical forces and how a regional conflict in the Middle East can have major implications at a global level.
“Carriers are seizing the opportunity while the market is hot, adding capacity into US East Coast ahead of what could be a turn in the market within the next two to three weeks. Offered capacity on the Far East to US East Coast trade is 6-7% higher in September than in August.
“We should expect one more freight rate push at the start of October as shippers rush cargo out of Asia ahead of the Golden Week shutdown, before rates start to soften, or at least the pace of growth will slow.”
Data highlights
Market average spot rates – 17 September 2026:
-
Far East to US West Coast: USD 7,960 per FEU (40ft container)
-
Far East to US East Coast: USD 11,259 per FEU
-
Far East to North Europe: USD 4,103 per FEU
-
Far East to Mediterranean: USD 4,434 per FEU
-
North Europe to US East Coast: USD 2,956 per FEU
Change since 28 February 2026 (pre-Hormuz crisis):
-
Far East to US West Coast: +323.6%
-
Far East to US East Coast: +324.7%
-
Far East to North Europe: +84.9%
-
Far East to Mediterranean: +33.2%
-
North Europe to US East Coast: +100.
COVID-19 peak comparison:
-
Far East to US West Coast: current USD 7,960 per FEU vs. all-time high USD 9,699 per FEU (set 1 February 2022) – 17.9% short of peak
-
Far East to US East Coast: current USD 11,259 per FEU vs. all-time high USD 12,683 per FEU (set 1 January 2022) –
11.2% short of peak
Ends
About Xeneta
Xeneta is the leading ocean and air freight rate benchmarking and market analytics platform transforming the shipping and logistics industry. Xeneta’s powerful reporting and analytics platform provides liner-shipping stakeholders the data they need to understand current and historical market behavior – reporting live on market average and low/high movements for both short and long-term contracts. Xeneta’s data is comprised of +600 million contracted container and air freight rates and covers over 170,000 global ocean trade routes and over 60,000 airport-airport connections. Xeneta is a privately held company with headquarters in Oslo, Norway. To learn more, please visit www.xeneta.com
Xeneta’s Media Contacts:
Philip Hennessey
Director of External Communications
Xeneta
+44 7830 021808
press@xeneta.com
|
