The Xeneta Weekly Ocean Container Shipping Market Update provides data and intelligence including the latest freight rate and capacity movements across global trades with supporting insight from Peter Sand, Xeneta Chief Analyst.

Peter Sand, Xeneta Chief Analyst: “Spot rates on the Far East to Europe trades have fallen heavily since the post-Hormuz crisis peak in July. The Mediterranean is taking the biggest hit, down 43% since 1 July, while North Europe is down 34%. The pace of the decline has eased a little, but rates are still elevated and the trend is still downward, so we are not at the floor yet.

“The spread between the Mediterranean and North Europe shows that no two trades are alike and that volatility differs depending on where you ship from and to. The spread was between these Europe-bound trades was around USD 500 on 1 October 2025 before peaking at USD 2,000 on 1 January 2026. Today the spread has overbalanced below where it was a year ago at just USD 400. Rerouting via Cape of Good Hope, which has lengthened the journey into the Mediterranean compared to North Europe, may help explain the relationship between the two trades which has historically seen North Europe as the more expensive.

“For European shippers, tender season is in full force and falling short-term rates are a welcome development as they negotiate long-term contracts, because they also benchmark against the short-term market. Demand has been very strong all year, not least into Europe, but it could not keep growing at double digits indefinitely. As demand eases from a very high level, the fight for capacity eases too, and even freight forwarders are now getting better deals from carriers in long-term contract negotiations

“Across the Pacific, there is a first hint of a downward momentum, with spot rates from Far East to US West Coast falling USD 2 on 7 October. It is a marginal move, but the first dip since mid-September."

Data highlights

Market average spot rates – 7 October 2026:

• Far East to US West Coast: USD 8,336 per FEU (40ft container)

• Far East to US East Coast: USD 11,512 per FEU

• Far East to North Europe: USD 3,645 per FEU

• Far East to Mediterranean: USD 4,007 per FEU

• North Europe to US East Coast: USD 2,854 per FEU

Change from a week ago (since 30 Sep 2026):

• Far East to US West Coast: +1.1%

• Far East to US East Coast: +0.5%

• Far East to North Europe: -2.5%

• Far East to Mediterranean: -5.9%

• North Europe to US East Coast: -1.1%