Sea Freight Market Update: October 2026
YQN Operation Team
Global shipping demand remains relatively stable this week. However, spot rates across most major trade lanes are easing. The Shanghai Containerized Freight Index (SCFI) leveled out at 3,686.62 points on September 24.
This weekly sea freight market update highlights varying regional trends. While European and Transpacific rates softened, Middle East routes saw rate increases due to ongoing disruptions.
Spot Rate Snapshot by Trade Lane
The table below outlines the latest rate movements from Shanghai base ports as of late September 2026.
| Trade Lane | Spot Rate | Unit | Weekly Change | Trend |
|---|---|---|---|---|
| Europe | $2,313 | per TEU | -4.6% | Down |
| Mediterranean | $3,065 | per TEU | -1.9% | Down |
| US West Coast | $7,463 | per FEU | -1.3% | Down |
| US East Coast | $10,497 | per FEU | -0.8% | Down |
| Persian Gulf | $6,586 | per TEU | +5.4% | Up |
| Australia / NZ | $2,833 | per TEU | -3.8% | Down |
| South America | $6,530 | per TEU | -15.2% | Down sharply |
Transpacific Routes: Strong US Economy Meets Easing Rates
The US economy shows resilient business expansion. The September composite PMI reached 58.4, marking a five-year high. Demand remains robust across the North American market.
Despite this strong economic backdrop, spot pricing cooled slightly after weeks of continuous gains. Rates to the US West Coast dipped 1.3% to $7,463 per FEU.
Similarly, US East Coast rates edged down 0.8% to $10,497 per FEU. Supply chain tightness and rising input costs continue to test corporate profitability heading into the fourth quarter.
Europe and Mediterranean: Weak Confidence Limits Demand
The European market faces significant economic headwinds. The Eurozone consumer confidence index fell to -16.5 in September. Rising energy costs and inflation are restricting consumer spending.
Consequently, shipping demand on the Asia-Europe trade lane is weak. The balance between vessel supply and cargo demand remains unfavorable for carriers, pushing rates downward.
Rates to European base ports fell 4.6% to $2,313 per TEU. The Mediterranean market followed a similar trajectory, with spot rates dropping 1.9% to $3,065 per TEU.
South America and Oceania Face Downward Pressure
South American trade routes experienced the sharpest decline this week. Weak demand and poor market fundamentals pushed rates down 15.2%, landing at $6,530 per TEU.
The Australia and New Zealand trade lanes also lacked growth momentum. Spot rates retreated from their previous highs, falling 3.8% to $2,833 per TEU.
Conversely, the Southeast Asian market remains stable. The regional container freight index rose 3.3% to 5,794.79, reflecting steady local cargo movement across short-haul routes.
Persian Gulf: Geopolitics Drive Rate Increases
The Middle East remains the primary exception to the global downward trend. Ongoing regional tensions and disruptions in the Red Sea continue to impact vessel availability.
These geopolitical factors push operational costs higher for carriers. As a result, the spot rate from Shanghai to the Persian Gulf rose 5.4% this week, reaching $6,586 per TEU.
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