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News Information

WEEK 23 Global Shipping Market Update

Publish Date: 2026/06/01   Views:

West Africa

Space: Tight
Rate Trend: Cargo volumes are gradually increasing in early June, while capacity is declining, resulting in severe space shortages and rapid sell-outs. Due to force majeure factors related to regional conflicts, freight rates are changing rapidly. Rising bunker fuel costs in June continue to drive ocean freight rates upward.
• CMA CGM: +USD 300/500
• MSC: +USD 100/400
• Maersk: Expected +USD 300/100
• COSCO: +USD 300/600
Advance booking is strongly recommended to secure space.

East Africa

Space: Tight
Rate Trend: Cargo volumes continue to grow, with bunker surcharges pushing freight rates upward in line with West Africa. Inland transshipment in East Africa remains heavily impacted by fuel surcharges and port congestion, with final transshipment costs subject to reconfirmation upon cargo arrival. Space is selling out faster, while shipment demand remains strong. Freight rates continue to stay at elevated levels.

South Africa

Space: Tight
Rate Trend: South Africa has entered its peak season, with increasing cargo volumes and generally stable freight rates. However, bunker surcharges are gradually pushing prices higher.
• MSC South Africa: +USD 600
• CMA CGM South Africa: Fully booked through mid-June
Other carriers are still actively seeking cargo. Export volumes of 40NOR (Non-Operating Reefer) containers to South Africa are increasing. Rates are approximately USD 500 lower than standard dry containers. Shippers without special loading requirements may consider NOR containers to reduce costs.

Thailand & Vietnam

Space : -3% / -5%
Rate Trend: +USD 15–30/TEU
Market Update: Demand on the Thailand-Vietnam trade continues to grow. Reduced vessel space has tightened supply, leading to upward pressure on freight rates. Export cargo growth has met carrier expectations, and rates continue to rise due to tight space availability.

Indonesia

Space : +3%
Rate Trend: Stable
Market Update: Port congestion has eased, while additional capacity has been introduced through new services, including:
• MSC OCHNA North Vietnam Service
• Guangzhou Port SCJX Indonesia Service
• Xiamen Ocean Gate Terminal SCJX Service
With increased capacity, freight rates remain stable compared to last week.

Singapore & Malaysia

Space : -7% / +6%
Rate Trend: +USD 25–50/TEU
Market Update: Export demand remains stable. Space availability has tightened due to long-haul rate increases and blank sailings, pushing rates upward. However, on some services, cargo demand and capacity remain balanced, allowing rates to stay unchanged.

Philippines

Space : Stable
Rate Trend: +USD 15–30/TEU
Market Update: Port congestion remains unresolved, with continued tight space supply. Rising imports and low port productivity are further exacerbating congestion, leading to another round of moderate freight rate increases.

Japan & Korea

Space: Stable
Rate Trend: Stable
Market Update: Capacity remains sufficient, port operations are stable, and overall space availability is adequate. Cargo demand remains relatively flat, leaving little room for freight rate adjustments.

India

Space: -5% / -3%
Rate Trend: +USD 100–200/TEU
Market Update: Strong export demand combined with carrier blank sailings has significantly tightened capacity. Space supply is falling short of demand, resulting in rapid freight rate increases.

Middle East

Space: Tight
Rate Trend : +USD 500/500
Market Update: Reduced capacity continues to support rate increases despite already elevated price levels. Direct-service rates remain around USD 5,000/6,300.
Key Developments:
• Iran's PGSA authority remains operational.
• New Hormuz Strait transit regulations continue to affect regional shipping operations.
• MSC launched the Dalian–Middle East container service, deploying eight 20,000–24,000 TEU vessels, providing direct India-Pakistan-Middle East connections and reducing transit time by approximately 10 days.

Red Sea

Space: Tight
Rate Trend : +USD 500/500
Market Update: Freight rates continue to rise, while space shortages remain unresolved.
Current Market Levels:
• Direct service to Jeddah: approximately USD 5,050/7,300
• Transshipment service: approximately USD 4,900/7,000
Peak-season demand across multiple trade lanes has left carriers with limited spare capacity, reinforcing their strategy of capacity control and rate support.

Australia & New Zealand

Space: Stable
Rate Trend: Increase
Market Update: Capacity has not increased significantly, and previous cargo backlogs continue to constrain available space. Freight rates remain at elevated levels and continue to rise. Australia West services remain relatively balanced in terms of cargo demand and capacity, with rates unchanged.

Europe & Mediterranean

Space: Decrease
Rate Trend: Increase
Market Update:
Growing cargo volumes have kept capacity under pressure. Carriers continue implementing rate increases, with expected hikes of USD 500–1,000 during June.

U.S. East Coast

Space: Tight
Rate Trend: Continuing to Rise
Market Update: Freight rates have exceeded USD 6,000/FEU in early June.
Key Factors:
• Panama Canal East Lane maintenance scheduled from June 9–17, increasing transit costs above USD 1 million per passage.
• Most June sailings to the U.S. East, West, and Gulf Coasts are nearly or fully sold out.
• Some carriers have already exhausted capacity before the second week of June.
• IPI destinations are facing severe space shortages.
Rollovers Becoming Common:
Carriers are maintaining vessel utilization above 95%, often releasing bookings 10–20% beyond actual capacity, significantly increasing rollover risks. Direct services are frequently shifted to transshipment routes, causing schedule disruptions.
Recommendation:
Secure space early and prioritize premium express services.

U.S. West Coast

Space: Tight
Rate Trend: Continuing to Rise
Market Update: Freight rates have exceeded USD 4,800/FEU in early June.
Market Conditions:
• Severe space shortages expected throughout June.
• Overbooking, rollovers, and cargo backlogs are becoming the norm.
• Effective Trans-Pacific capacity remains approximately 20–25% below normal levels due to blank sailings, slow steaming, and vessel redeployment.
• Prime Day inventory preparations, front-loaded peak-season shipments, and accelerated exports continue to support demand.
SCFI has risen for five consecutive weeks, surpassing 2,712 points.
Reference Rates:
• SCFI U.S. West Coast: USD 3,154/FEU
• Drewry Los Angeles: USD 3,385/FEU
Maersk will implement a Peak Season Surcharge (PSS) of USD 2,000 per 40' container effective June 17.

West Coast South America / Mexico

Space: OverBooked
Rate Trend : +USD 500/500
Market Update: Capacity remains tight amid strong cargo accumulation. Guaranteed-space customers should reconfirm allocations in advance.
• WSA6 ceased South China calls from May onward.
• Limited vessel tonnage on WSA services; heavy containers require separate approval.

Central America

Space: OverBooked
Rate Trend : +USD 500/500
Market Update: COSCO has suspended acceptance of cargo bound for Balboa.
Alternative Routing:
• Cargo transshipping via Balboa to PUERTO CALDERA, CORINTO, and SAN LORENZO should be rerouted via LAZARO.
• PUERTO CALDERA via CHANCAY.
• CORINTO / SAN LORENZO via BUENAVENTURA.

Panama & Caribbean

Space: OverBooked
Rate Trend : +USD 560/620
Market Update:
Geopolitical developments have led COSCO to suspend Balboa-bound cargo acceptance.
Additional Restrictions:
• SAN JUAN and PORT AU PRINCE remain suspended.
• Restrictions at other Caribbean ports have largely been lifted.
Heavy containers still require prior approval, and guaranteed-space bookings should be confirmed in advance.

East Coast South America

Space: OverBooked
Rate Trend : +USD 1,000/1,000
Market Update: Strong demand driven by tariff-related factors since May has resulted in severe space shortages. Guaranteed-space bookings require case-by-case confirmation.
Additional Notes:
• Strong demand for 40NOR containers, with adequate equipment availability.
• Shippers considering reefer-as-dry (NOR) solutions should reserve space early.
• COSCO has suspended cargo acceptance to ROSARIO.
• Shipments to RIO DE JANEIRO face risks of port omission and rollover during transshipment via Singapore.


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