Print

Read more on Freightos

Transpacific container rates touched fresh annual highs in the week to 30 September 2026, lifted by a bilateral US–China trade truce and severe origin berth delays, whilst Europe-bound lanes extended their steep correction on expanding Red Sea transits.

According to the Freightos Baltic Index (FBX), Asia–US West Coast rates climbed 4% to $8,411/FEU—marking a fresh 2026 peak—whilst Asia–US East Coast prices held flat at $9,606/FEU, just $200 shy of their late-August high. In contrast, Asia–Northern Europe sank 9% to $3,376/FEU, down roughly $2,600 from July peaks, and Asia–Mediterranean tumbled 7% to $3,620/FEU. Despite the sharp multi-month retreat, European lanes remain roughly 50% above year-ago levels, anchored by high base operating costs.

The pronounced softening on Europe-bound corridors reflects post-peak volume depletion alongside returning Suez Canal transits. Although select carriers have tabled late-October rate increases ahead of year-end contract negotiations, sluggish downstream purchasing and lingering destination hub backlogs are expected to blunt upward traction.

Conversely, Transpacific vessel space remains acutely constrained. Ahead of China’s Golden Week, carriers accelerated blanked sailings into late October, whilst Far East port delays continue to drain active fleet capacity. Sea-Intelligence estimates that port congestion is tying up over 8% of global container capacity, a deficit that could take up to ten months to unwind. Together with elevated bunker surcharges linked to Middle East transit friction, this bottleneck cements a firm rate floor ahead of the pre-Lunar New Year rush.

On the policy and routing front, last week’s Washington summit delivered a two-month extension to the US–China trade truce alongside mutual tariff cuts on $30 billion of bilateral imports, postponing threatened $1 million vessel port call fees. Concurrently, US East Coast shippers gained operational breathing space as the Panama Canal Authority restored daily Neopanamax transits to ten and raised maximum vessel draft limits to 49 feet following improved seasonal rainfall.

Written by: Aiman Haikal