Asia–North America Container Freight Rates Surpass US$7,900 as Market Focus Shifts Away from Hormuz

After weeks of being overshadowed by geopolitical tensions in the Strait of Hormuz, the global container shipping market is increasingly refocusing on market fundamentals. Surging freight rates, an early start to the peak shipping season, and carriers' ongoing network adjustments are now exerting a greater influence on market dynamics than geopolitical risks in the Middle East.

Trans-Pacific Freight Rates Continue to Climb

SONAR‘s Ocean Supply

According to data from Freightos, which supplies market intelligence to the SONAR maritime analytics platform, spot rates from Asia to the U.S. West Coast (USWC) rose 8% to US$6,175 per forty-foot equivalent unit (FEU). Rates on the Asia–U.S. East Coast (USEC) trade also increased by 8%, reaching US$7,998 per FEU.

The gains come despite Iran continuing to assert its authority over maritime traffic through the Strait of Hormuz, even as negotiations toward a broader peace agreement with the United States remain ongoing.

In a customer advisory, Judah Levine, Head of Research at Freightos, commented: "Oil volumes out of the Gulf states are rebounding, though marine traffic was paused … following Iranian strikes on transiting vessels and sites in Bahrain and Kuwait."

In practice, the International Maritime Organization (IMO) continues to suspend its coordinated evacuation operation for vessels and seafarers following recent attacks on commercial shipping in the region. However, as crude oil exports from the Gulf gradually recover, the primary driver behind container freight rates has shifted back to strong seasonal shipping demand rather than higher fuel prices.

Explaining the latest market trend, Levine said: "The early start to this year’s peak has sent rates spiking on the main east-west lanes since mid-May."

He added: "with carriers shifting capacity from secondary lanes to service this demand, contributing to rate increases on secondary trades too."

Carriers Continue to Adjust Service Networks

To adapt to changing market conditions, container carriers continue to reshape their service networks. ZIM recently launched a new service linking Asia with the East Coast of South America, while Hapag-Lloyd has updated vessel rotations across several services.

Meanwhile, shipping lines continue expanding their fleets and placing newbuilding orders, reflecting efforts to balance capacity growth with evolving cargo demand across major trade lanes.

Since mid-May, freight rates across the Trans-Pacific have risen sharply. Rates from Asia to the U.S. West Coast have increased by approximately 120%, while those to the U.S. East Coast are up around 85%. Over the same period, freight rates from Asia to Northern Europe have climbed roughly 70%, while services to the Mediterranean have surged by approximately 85%.

Early Import Rush Continues to Support Higher Freight Rates

According to Freightos, confidence among importers regarding consumer demand continues to underpin strong shipping activity.

Levine noted: "Trans-Pacific East Coast rates are now $1,000/FEU higher than last year’s frontloading-driven summer high, with West Coast prices just above their 2025 peak. Europe and Mediterranean rates are $1,300- and $3,000- per FEU above their 2025 peak season highs, respectively."

The trend also aligns with changing consumer behavior in the United States. According to the National Retail Federation (NRF), 32% of U.S. consumers had already begun back-to-school shopping by June, compared with 26% during the same period in 2025. The increase is widely viewed as a positive indicator for import demand ahead of the year-end shopping season.

However, stronger cargo volumes are also putting pressure on major transshipment hubs across South Asia, the Far East, and Europe. Congestion at key hub ports is tightening effective vessel capacity, adding further upward pressure to freight rates.

The ongoing wave of early imports is being driven by several factors, including shippers bringing cargo forward ahead of anticipated fuel surcharge increases, expected price hikes from manufacturers, and, most importantly, the implementation of new U.S. tariff measures.

Looking ahead to this year's peak season, Levine said: "If enough shippers are indeed pulling peak season volumes forward, we could expect the early start to mean an early peak season unwind as well, possibly some time in July."

However, he cautioned that persistent congestion at major ports could keep shipping demand elevated for longer than currently expected.

Commenting on the market outlook, Levine concluded: "Carriers are set to introduce more rate increases to start July, so the degree of success carriers have with these price hikes should reflect where the market is in terms of this year’s peak-season peak."

See more:

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• Maersk Raises Intermodal Fuel Surcharges in Australia and New Zealand
• International Shipping and Logistics Market Update Week 26/2026 | Phaata
• CMA CGM Megaship Successfully Transits the Strait of Hormuz as IMO Suspends Evacuation Operation
• Port of Long Beach Invests $58.2 Million to Expand Zero-Emission Cargo Handling Fleet
• Strait of Hormuz Gradually Resumes Operations: Positive Signals Amid Regulatory Disputes
• IMO Launches Plan to Evacuate Over 11,000 Seafarers Stranded in the Strait of Hormuz
• Northwest Seaport Alliance (NWSA): Import and Export Volumes Simultaneously Rally in May
• Container Shipping Resilience: A Deeper Look Behind Faster Recovery Times
• US–Iran 'Hotline' Established for the Strait of Hormuz: Diplomatic Progress Meets Maritime Challenges
• Port of Melbourne Reports Positive Container Throughput Growth in May

Source: Phaata.com (According to Freight Waves)

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