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 – Far East to Europe spot rates rise despite Red Sea return as demand overrides supply
Peter Sand, Xeneta Chief Analyst:
“Despite the continuing return of container shipping services to the Red Sea freeing up capacity in the fleet, spot rates from the Far East to North Europe and Mediterranean are up 6.8% and 5.8% respectively from a week ago. This follows steady decline since July before spot rates reached an invisible floor last week and are now starting an upward trend.
“This is a conundrum because the release of capacity into the global fleet should ease pressure on rates, but we are seeing the opposite. Spot rates are still up 67% into North Europe and 33% into Mediterranean compared to pre-Hormuz crisis on 28 February.
“Part of the answer to the conundrum of rates holding up in the face of increasing capacity is found in strong demand on these lanes, with volumes shipped from Far East to Europe up 12.2% in the first seven months of the year.
“Disruption such as Middle East conflict brings volatility and sudden shocks, but demand is a powerful upward force for rates. If demand is not there, then rates will collapse, but it has been strong enough on the European fronthauls to prevent this, even as Red Sea capacity returns.
“Spot rates from the Far East to the US West Coast and US East Coast are essentially flat from a week ago, up 0.2% on both trades. This confirms the US trades have peaked and we expect them to soften through the remainder of 2026.
“Spot rates into the US East Coast remain more than three times those into North Europe.”
Data highlights
Market average spot rates – 23 October 2026:
-
Far East to US West Coast: USD 8,311 per FEU (40ft container)
-
Far East to US East Coast: USD 11,525 per FEU
-
Far East to North Europe: USD 3,698 per FEU
-
Far East to Mediterranean: USD 4,442 per FEU
-
North Europe to US East Coast: USD 2,963 per FEU
Change from a week ago (since 16 Oct 2026):
-
Far East to US West Coast: +0.2%
-
Far East to US East Coast: +0.2%
-
Far East to North Europe: +6.8%
-
Far East to Mediterranean: +5.8%
-
North Europe to US East Coast: -0.2%
Change since 1 July 2026:
-
Far East to US West Coast: +18.9%
-
Far East to US East Coast: +31.7%
-
Far East to North Europe: -33.2%
-
Far East to Mediterranean: -36.7%
-
North Europe to US East Coast: +16.0%
Change since pre-Hormuz crisis (28 Feb 2026):
-
Far East to US West Coast: +342%
-
Far East to US East Coast: +335%
-
Far East to North Europe: +67%
-
Far East to Mediterranean: +33%
-
North Europe to US East Coast: +101%
Ends
