Freight Rate Update, August 24, 2026

Global container freight markets weakened last week, with declines spreading across most major trade lanes. Pacific routes showed a mixed performance, with modest gains on headhaul services offset by lower backhaul rates. Suez-linked routes recorded the sharpest deterioration, while Atlantic routes also weakened overall despite a gain on one westbound transatlantic service.

The Freightos FBX Global Container Freight Index fell 3% week over week to $3,571 per 40ft container, reversing the 2% increase recorded in the previous week.

Shipping conditions remained challenging as the US-Iran agreement aimed at reopening the Strait of Hormuz expired without a breakthrough, leaving the US blockade in place and severely restricting traffic through the waterway. Carriers also remained cautious about restoring Red Sea and Suez services amid renewed security concerns. High fuel costs linked to the Hormuz disruption and continued port congestion are increasing the economic appeal of shorter Red Sea routes compared with longer diversions around the Cape of Good Hope.

Major east-west markets continued to move in different directions. Transpacific demand remained relatively resilient as carriers supported rates through blank sailings and capacity reductions, while the early peak-season strength on Asia-Europe routes continued to fade. European freight rates have fallen considerably from their July highs, although congestion at major Asian and European ports continues to slow normalization. German port strikes have added further operational pressure.

Looking ahead, freight markets remain exposed to several competing factors. Softer peak-season demand could weigh on rates, while high bunker costs, capacity management and persistent congestion may limit further declines. Restrictions on the Panama Canal ahead of expected drought conditions are also creating additional risks, with several carriers preparing surcharges from September. Ongoing Hormuz tensions and instability in the Red Sea are expected to keep freight costs and operations volatile.

Pacific Routes

China/East Asia → North America West Coast
Current Rate: $7,491/40' container
Weekly Change: ▲ 1%

North America West Coast → China/East Asia
Current Rate: $347/40' container
Weekly Change: ▼ 2%

China/East Asia → North America East Coast
Current Rate: $9,576/40' container
Weekly Change: ▲ 2%

North America East Coast → China/East Asia
Current Rate: $491/40' container
Weekly Change: ▼ 6%

Suez Routes

China/East Asia → North Europe
Current Rate: $4,699/40' container
Weekly Change: ▼ 6%

North Europe → China/East Asia
Current Rate: $523/40' container
Weekly Change: ▼ 2%

China/East Asia → Mediterranean
Current Rate: $4,976/40' container
Weekly Change: ▼ 15%

Mediterranean → China/East Asia
Current Rate: $346/40' container
Weekly Change: ▼ 20%

Atlantic Routes

North America East Coast → North Europe
Current Rate: $417/40' container
Weekly Change: ▼ 11%

North Europe → North America East Coast
Current Rate: $2,366/40' container
Weekly Change: ▲ 6%

Europe → South America East Coast
Current Rate: $1,101/40' container
Weekly Change: ▼ 12%

Europe → South America West Coast
Current Rate: $2,310/40' container
Weekly Change: ▼ 6%

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