Xeneta Weekly Ocean Container Shipping Market Update provides the latest freight rate and capacity movements across global trades, with analysis from Peter Sand, Chief Analyst, Xeneta.
As of 10 July 2026, average spot rates stood at $7,069 per FEU from the Far East to the US West Coast, $8,808 to the US East Coast, $5,503 to North Europe, $6,855 to the Mediterranean, and $2,531 from North Europe to the US East Coast.
Week-on-week movements were minor across the board, ranging from a 0.9 per cent fall on the Far East to Mediterranean route to a 0.3 per cent rise on the Far East to US East Coast, with North Europe to US East Coast unchanged.
Compared with pre-crisis levels at the end of February, rates remain sharply elevated, up 276 per cent on Far East to US West Coast, 232 per cent on Far East to US East Coast, 148 per cent on Far East to North Europe, 106 per cent on Far East to Mediterranean, and 71 per cent on North Europe to US East Coast.
Carriers have meanwhile continued adding capacity, with four-week rolling averages up 5.5 per cent on Far East to US West Coast, 6.2 per cent on US East Coast, 3.1 per cent on North Europe and 3.8 per cent on North Europe to US East Coast, while Far East to Mediterranean capacity fell 2.3 per cent.
READ: Xeneta highlights peak season freight rate surge
Peter Sand, Chief Analyst, Xeneta, said: “It is still a very challenging market, but there is a faint glimmer of light at the end of the tunnel for shippers after spot rates remained essentially flat on major trades out of the Far East this week and carriers continue to increase offered capacity.
“This is by no means an end to the freight rate spike driven by the Strait of Hormuz crisis, and further increases are expected mid-July, but these should be of a lower order of magnitude compared to the start of the month.
“Context matters because spot rates from Far East to US West Coast and US East Coast still sit +276 per cent and +232 per cent since the end of February. These are extraordinary levels and shippers are still paying multiples of what they were expecting to pay at the start of the year.”
Sand said the shift has come from the supply side, with carriers continuing to deploy more capacity into the market, particularly on Far East to US West Coast, US East Coast and North Europe routes.
He said: “That sustained capacity injection appears to be having an effect, easing some of the pressure and helping shippers to move goods more reliably, even if it is not yet translating into lower rates.
“We are at the beginning of the traditional peak season and the Strait of Hormuz remains effectively closed to container shipping. What we can say is that the market has paused for breath, and for shippers who have endured months of spiralling costs, that is at least a small piece of welcome news, for as long as it lasts.”
For more information:
Xeneta – https://www.xeneta.com/
