Latest Xeneta ocean container shipping data shows spot freight rates declining across all major Far East fronthaul trades to the US and Europe, although shippers may face increased operational risks as carriers move to restrict capacity.
Peter Sand, Chief Analyst at Xeneta, said average spot rates fell across all routes over the past week, with the sharpest declines seen on Far East–Mediterranean trades, followed by North Europe and US routes.
Sand said: “Average spot rates have fallen on all Far East fronthauls to the US and Europe in the past week, but there may be a sting in the tail for shippers with carriers expected to begin blanking sailings more aggressively.”
“The steepest spot rate decline is found from Far East to Mediterranean, down -6.6 per cent, followed by -5.3 per cent to North Europe, -5 per cent to US East Coast and -3.1 per cent into US West Coast.”
Sand warned that carriers are likely to respond by tightening capacity in an effort to stabilise falling freight rates.
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He said: “Carriers will begin blanking sailings more aggressively in a bid to tighten capacity and bring the decline in freight rates under control.
“If a shipper expects cargo to leave port on a certain date, they should factor the risk of that service being blanked – potentially at the last minute – and the subsequent ripple effects of delays on their supply chain.”
While lower rates may benefit shippers in the short term, Sand cautioned that excess capacity could carry hidden costs.
“Shippers may benefit from overcapacity if it forces lower freight rates, but if that overcapacity also causes increased blanked sailings, there could be an operational price to pay.”
He added that financial pressure across the liner sector is likely to intensify in 2026.
“Maersk has already reported a loss for its ocean segment in Q4 2025 (APMM Q4-2025 EBIT for Ocean at -$153 million) and all carriers will face overcapacity challenges in 2026. Carriers will not sit and watch freight rates fall, with blanking sailings being just one tool at their disposal.”
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As of 5 February 2026, Xeneta data shows average spot rates at $2,124 per FEU from the Far East to the US West Coast, $2,946 per FEU to the US East Coast, $2,466 per FEU to North Europe, and $3,929 per FEU to the Mediterranean. Rates from North Europe to the US East Coast averaged $1,491 per FEU.
Offered capacity trends over the four weeks to 2 February show a mixed picture, with capacity down 2.1 per cent week on week from the Far East to the US West Coast and down 3.6 per cent to the Mediterranean, while capacity increased 8.1 per cent to the US East Coast and 9.6 per cent from North Europe to the US East Coast.
The latest average spot rate data is detailed in Xeneta’s weekly rate and chart files dated 6 February 2026.
For more information:
Xeneta – https://www.xeneta.com/
