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Asia–Europe container freight rates retreated sharply in the week to 15 September 2026 as the accelerating return of vessels to the Red Sea and Suez Canal restored effective capacity to the trade lanes, while Transpacific rates moved in the opposite direction amid persistent congestion at Far East ports.

According to the Freightos Baltic Index, Asia–Mediterranean freight rates plunged 12% week-on-week, marking the steepest correction among the major routes. Asia–Northern Europe rates slipped 3%.

By contrast, Asia–US West Coast rates climbed 3%, while Asia–US East Coast values rose 2%.

The divergence highlights increasingly different supply-demand dynamics across the major container trade lanes, with the gradual restoration of Suez routings starting to release capacity into the Asia–Europe market even as severe congestion continues to constrain vessel availability elsewhere.

Sea-Intelligence estimated that 27% of Asia–Europe capacity would be routed through the Red Sea/Suez Canal during September, with carriers showing a particularly strong preference for restoring backhaul services. The Mediterranean has led the return, with 57% of September backhaul capacity routed through the Red Sea compared with 27% from Northern Europe.

Major carriers are continuing to expand Suez transits despite lingering security risks around the Bab el-Mandeb Strait. Maersk and Hapag-Lloyd this week announced that four additional joint services would return to the Suez route, extending a gradual restoration that began over recent months. The shorter routing reduces sailing time compared with diversions around the Cape of Good Hope and effectively releases additional vessel capacity into the network.

The decline in freight rates, however, does not signal a full normalisation of physical logistics.

Persistent congestion across Asian origin ports continues to disrupt schedules following a series of severe typhoons, with vessel delays increasingly spilling into downstream ports in Southeast Asia and the Indian subcontinent. Maersk also reported widespread congestion and operational delays across East Asia following an unusually active typhoon season.

The Transpacific market presents an even clearer example. Freight rates remained near peak levels as resilient cargo demand combined with Far East congestion to keep spot availability tight. Demand pressure could begin easing in the coming months, although port backlogs and blank sailings around the Golden Week holiday may delay any meaningful correction in freight costs.

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