Published: October 10, 2026
The container shipping market entered October with mixed signals: Asia–Europe rates continued their prolonged decline, while trans-Pacific rates remained elevated but showed early signs of softening. Red Sea transits are accelerating, adding effective capacity back into Asia–Europe services, even as port congestion continues to absorb a significant share of the global fleet.
Asia–Europe rates fell for a 13th consecutive week. Shanghai–Rotterdam dropped to $3,337/FEU** (-2% week-on-week), while Mediterranean rates held relatively steady at around **$3,696/FEU. According to Xeneta, Far East–North Europe rates have fallen 34% from their July peak, and Far East–Mediterranean rates are down 43%.
Trans-Pacific rates showed signs of easing. Shanghai–US West Coast stood at approximately $7,624/FEU** (-3%), and Shanghai–US East Coast at around **$10,220/FEU (-2%). Xeneta analysts believe trans-Pacific rates have peaked, though a sharp correction is unlikely before the end of the year.
Several carriers have announced rate hikes for late October: Maersk quoted Shanghai–Rotterdam at $4,000/FEU**, Hapag-Lloyd at **$4,200/FEU, with CMA CGM and OOCL following at $4,200–4,300/FEU.
However, actual opening rates remain below announced levels — Maersk's late-October opening rate was only $3,200/FEU, indicating limited market acceptance of the increases.
The Premier Alliance (ONE, HMM, Yang Ming) announced the restoration of Red Sea / Suez Canal services, covering the FE1 Asia–North Europe service and the IOX/INX India Subcontinent–North Europe service. The FE1 maiden voyage departs Laem Chabang on October 19, with its first westbound Suez transit on November 9.
With this move, all three major alliances and MSC have now restored Red Sea transits to varying degrees, releasing additional effective capacity into Asia–Europe routes.
According to a C.H. Robinson report, approximately 12% of global container ship capacity is currently absorbed by port congestion — the highest level in four years. Congestion is particularly severe in East Asia, Northern Europe, and the Indian Subcontinent, leaving actual available capacity well below the nominal fleet size.
HMM "PLATINUM" fire: The vessel, en route from India to Brazil with approximately 2,300 containers on board, caught fire. The incident may result in significant losses, with a LOF salvage agreement already signed and general average potentially declared.
Hapag-Lloyd suspends new bookings to three Philippine ports (Manila, Batangas, Subic Bay) due to persistent congestion and limited yard and empty-container return capacity. The restriction is expected to remain in place until December 31.
Hapag-Lloyd and CMA CGM suspend all Cuba bookings following escalated US sanctions, leaving over 7,000 containers stranded at Caribbean ports.
The Shanghai Containerized Freight Index (SCFI) stood at 3,664.11 points, unchanged from the pre-holiday period, indicating a steady market recovery.
Lüsi Port launched its first Middle East container route on October 1, connecting Oman, Lüsi, Qingdao, and Ningbo — eliminating the previous need for third-country transshipment.
The market is entering a period of transition. Red Sea normalization is gradually restoring effective capacity, while congestion continues to distort the supply-demand balance. Rate increases announced for late October face uncertain execution, and carriers are expected to manage capacity actively in the coming weeks.
