Spot rates on major ocean container shipping trades from the Far East to the US and Europe have softened this week, according to the latest Xeneta Weekly Ocean Container Shipping Market Update.
This may signal that the triple-digit percentage spikes driven by the Middle East conflict have peaked.
As of 16 July 2026, market average spot rates stood at $6,611 per FEU from Far East to US West Coast, $8,742 to US East Coast, $5,410 to North Europe, $6,727 to the Mediterranean, and $2,499 from North Europe to US East Coast.
Week-on-week, Far East to US West Coast fell 5 per cent, and Mediterranean fell 2 per cent, with US East Coast and North Europe both down 1 per cent, while North Europe to US East Coast rose 1 per cent.
Since the end of February, rates have remained sharply elevated, with Far East to US West Coast up 252 per cent, US East Coast up 230 per cent, North Europe up 144 per cent, Mediterranean up 102 per cent, and North Europe to US East Coast up 69 per cent.
READ: Xeneta reports freight rates steady amid Hormuz crisis
Emily Stausbøll, Senior Shipping Analyst at Xeneta, said: “Spot rates on major ocean container shipping trades from Far East to US and Europe have softened this week in a sign the triple-digit percentage spikes caused by the Middle East conflict appear to have peaked. Far East to US West Coast is down 5 per cent week-on-week and Mediterranean is down 2 per cent, while US East Coast and North Europe are both down 1 per cent, with further decreases expected.”
She said the shift is driven by carriers ramping up capacity and cooling frontloading demand: “Shippers pulled forward volumes at the start of peak season to avoid expected Q3 bunker adjustment factor increases and protect supply chains from the Middle East disruption rippling across global trades. The irony is this frontloading contributed to a capacity squeeze that then pushed spot rates higher than they likely would have been otherwise.”
Stausbøll cautioned it is too early to call a sustained decline, and warned that escalating military strikes between Iran and the US could halt the softening if the situation deteriorates further.
“But the direction of travel is becoming clear: capacity is rising, demand is cooling, and the market is starting to turn,” she said.
For more information:
Xeneta – https://www.xeneta.com/
