Global container freight rates continue easing as market correction slows

Global container freight rates declined again last week, although the pace of correction slowed across most major trade routes. According to the latest Freightos FBX data, export routes from China/East Asia remained under pressure, with the steepest decline recorded on shipments to the US West Coast. Freight rates to Europe also moved lower, while backhaul routes were largely stable with only minor changes.

The Freightos FBX Global Container Freight Index fell 5% week-on-week to $3,665 per 40-foot container, extending the recent downward trend after earlier gains.

Market conditions remained mixed throughout the week. Softer cargo demand following an unusually early peak shipping season, along with additional vessel capacity entering the market, continued to weigh on spot freight rates. However, severe congestion at several Far East ports following Typhoon Bavi absorbed part of the available shipping capacity, helping to prevent a sharper decline despite weaker booking activity.

Geopolitical tensions also remained a key concern. The conflict in the Middle East expanded beyond the Strait of Hormuz to the Bab el-Mandeb Strait, where attacks on Saudi-linked vessels and energy infrastructure renewed concerns over Red Sea shipping. As a result, some tanker operators have adjusted sailing routes, while container shipping lines remain cautious about resuming regular Red Sea services.

Higher crude oil prices and bunker fuel costs have prompted some carriers, including CMA CGM, to introduce emergency fuel surcharges from August. However, easing demand and improved vessel availability have largely offset the impact of rising fuel costs on container freight markets.

Looking ahead, market participants expect freight rates to remain relatively stable. While weaker seasonal demand and additional shipping capacity are likely to keep rates under pressure, ongoing port congestion, geopolitical uncertainty and changing US trade policies are expected to limit any sharp decline.

Freight Rates by Trade Route (Effective July 24, 2026)

China/East Asia → North America West Coast
Current Rate: $6,212/40' container
Weekly Change: ▼ 12%

North America West Coast → China/East Asia
Current Rate: $429/40' container
Weekly Change: No Change

China/East Asia → North America East Coast
Current Rate: $9,002/40' container
Weekly Change: ▼ 1%

North America East Coast → China/East Asia
Current Rate: $520/40' container
Weekly Change: ▼ 1%

China/East Asia → North Europe
Current Rate: $5,575/40' container
Weekly Change: ▼ 3%

North Europe → China/East Asia
Current Rate: $541/40' container
Weekly Change: ▼ 1%

China/East Asia → Mediterranean
Current Rate: $6,697/40' container
Weekly Change: ▼ 2%

Mediterranean → China/East Asia
Current Rate: $675/40' container
Weekly Change: No Change

North America East Coast → North Europe
Current Rate: $524/40' container
Weekly Change: ▼ 1%

North Europe → North America East Coast
Current Rate: $2,067/40' container
Weekly Change: No Change

Europe → South America East Coast
Current Rate: $1,250/40' container
Weekly Change: No Change

Europe → South America West Coast
Current Rate: $2,468/40' container
Weekly Change: No Change

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