Freight Rate Update, March 9, 2026

Global freight markets recorded increased volatility last week, according to Freightos Terminal FBX data, just ahead of the escalation in Middle East tensions following the US-Israel strikes on Iran. Compared with the previous week’s relatively modest adjustments, several key east-west trade lanes showed more visible movements, with export rates from China showing mixed trends across Pacific and Suez routes.

Rising geopolitical tensions in the Middle East have started to disrupt regional shipping operations. Major carriers have tightened booking policies, rerouted vessels and introduced emergency surcharges on Gulf-related trades. Shipping lines including Maersk, CMA CGM and Hapag-Lloyd have implemented booking restrictions for several Gulf destinations and introduced war-risk and conflict-related premiums due to increasing security risks and operational uncertainty.

The situation has been further complicated by a sharp decline in vessel traffic through the Strait of Hormuz, one of the world’s most important maritime corridors. As security concerns intensify, logistics providers are assessing alternative routing options, including diversions toward Red Sea ports or inland transport corridors across Saudi Arabia. While disruptions are currently concentrated around Gulf-linked trades, market participants warn that prolonged instability could tighten vessel capacity, raise insurance and bunker costs, and gradually push freight rates higher.

Among the 13 monitored trade routes, most rate movements remained relatively moderate. On the Pacific corridor, the China/East Asia–North America West Coast route recorded the strongest increase with a 10% weekly gain, while the China/East Asia–North America East Coast route declined by 9%. On the Suez corridor, China/East Asia–North Europe rose by 6%, marking the most significant increase on that route. In the Atlantic market, movements were limited, with the North Europe–North America East Coast route recording the sharpest decline of 4%.

Weekly Freight Rates (USD per 40’ container) – Effective March 6, 2026

PACIFIC

China/East Asia → North America West Coast: $2,022 ▲10%

North America West Coast → China/East Asia: $362 ▲7%

China/East Asia → North America East Coast: $2,748 ▼9%

North America East Coast → China/East Asia: $511 ▲6%

SUEZ

China/East Asia → North Europe: $2,614 ▲6%

North Europe → China/East Asia: $479 ▲1%

China/East Asia → Mediterranean: $3,717 ▲2%

Mediterranean → China/East Asia: $589 ▲1%

ATLANTIC

North America East Coast → North Europe: $591 ▲1%

North Europe → North America East Coast: $1,488 ▼4%

Europe → South America East Coast: $1,005 —

Europe → South America West Coast: $2,391 ▲1%

Overall, the latest data shows mixed freight rate movements across major trade lanes, with geopolitical developments in the Middle East increasingly influencing global shipping dynamics.

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