Freight Rates Show Mixed Movement as Global Shipping Market Stabilizes

According to Freightos Terminal FBX data, global freight markets showed a more mixed and relatively stable performance last week after recording broad declines in the previous week. Pacific routes saw modest gains, mainly supported by higher China-origin headhaul rates, while backhaul rates remained stable. Suez-related routes continued to face downward pressure, particularly Mediterranean services, although the declines were much smaller than the previous week. Some Europe-origin routes, meanwhile, recorded increases.

Atlantic markets were mostly unchanged, although westbound transatlantic rates posted a notable rise.

The Freightos FBX Global Container Freight Index increased 1% week over week to $3,590 per 40ft container, following a 3% decline in the previous week. The rise indicates a modest recovery in global container freight rates.

Hormuz and Red Sea Disruptions Keep Outlook Uncertain

Shipping conditions remained uncertain as efforts to reopen the Strait of Hormuz continued to face delays. The US announced plans to tighten economic sanctions on countries trading with Iran, potentially affecting China, the largest buyer of Iranian oil, as Washington seeks to increase pressure on Tehran.

Meanwhile, tensions remained high in the Red Sea following recent Houthi attacks. However, MSC joined other major carriers in sending vessels through the southern Red Sea. The gradual return of some carrier traffic has created cautious optimism about a possible normalization of Red Sea and Suez routes, although security concerns remain significant.

Transpacific Rates Stay Supported

Demand across the major east-west routes remained relatively strong. Transpacific volumes continued to hold up better than expected, keeping freight rates close to peak-season levels despite this year’s early start to the peak season.

Uncertainty surrounding possible additional US tariffs may be encouraging importers to bring cargoes forward. At the same time, carrier capacity reductions and severe congestion at several major Chinese ports are providing additional support to rates.

Asia-Europe rates, however, continued to decline from their early-July highs as demand weakened, particularly on Mediterranean routes. Congestion in Asia and North Europe, together with low Rhine water levels, continues to disrupt cargo movements and could slow the pace of further rate declines.

Operational Constraints Add Further Pressure

Operational restrictions remain another major uncertainty for freight markets. The Panama Canal Authority has delayed a planned draft reduction from September to October. However, lower daily transit slots and carrier surcharges scheduled for September could still push rates higher on some Asia-US East Coast services.

Low water levels on the Amazon River are also disrupting Brazilian trade flows and increasing transportation costs.

Overall, weaker demand on some routes is being offset by resilient transpacific volumes, carrier capacity management, congestion and water-related restrictions. This combination is likely to keep freight rates uneven across major trade lanes in the near term.

Major Route Movements

Across the 13 monitored routes, freight rates showed a mixed performance last week. The largest increase was recorded on the North Europe–North America East Coast route, where rates climbed 9%. This was followed by North Europe–China/East Asia, which rose 3%.

Rates on both China/East Asia–North America West Coast and China/East Asia–North America East Coast increased by 2%.

On the downside, Mediterranean–China/East Asia recorded the steepest decline at 9%, followed by China/East Asia–Mediterranean, which fell 4%. China/East Asia–North Europe declined by 1%. The remaining six routes were unchanged from the previous week.

The following weekly rates for 13 major routes were effective as of August 28, 2026, including applicable costs such as bunker adjustment fees (BAF) and currency adjustment fees (CAF):

Freight Rates — August 28, 2026

PACIFIC

China/East Asia → North America West Coast
Freight Rate: $7,621/40ft container
Change: ▲ 2%

North America West Coast → China/East Asia
Freight Rate: $347/40ft container
Change: No changes

China/East Asia → North America East Coast
Freight Rate: $9,791/40ft container
Change: ▲ 2%

North America East Coast → China/East Asia
Freight Rate: $491/40ft container
Change: No changes

SUEZ

China/East Asia → North Europe
Freight Rate: $4,641/40ft container
Change: ▼ 1%

North Europe → China/East Asia
Freight Rate: $540/40ft container
Change: ▲ 3%

China/East Asia → Mediterranean
Freight Rate: $4,800/40ft container
Change: ▼ 4%

Mediterranean → China/East Asia
Freight Rate: $314/40ft container
Change: ▼ 9%

ATLANTIC

North America East Coast → North Europe
Freight Rate: $417/40ft container
Change: No changes

North Europe → North America East Coast
Freight Rate: $2,574/40ft container
Change: ▲ 9%

Europe → South America East Coast
Freight Rate: $1,101/40ft container
Change: No changes

Europe → South America West Coast
Freight Rate: $2,310/40ft container
Change: No changes

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