International Shipping and Logistics Market Update Week 22/2026 | Phaata

International shipping and logistics market update - Week 22/2026

Table of Contents

1. World Container Index Week 22/2026

2. Asia - North America Ocean Freight Rates

3. Asia - Europe Ocean Freight Rates

4. Northern America - Asia Ocean Freight Rates

5. Northern Europe - Asia Ocean Freight Rates

6. Conclusions and Recommendations by Phaata

1. World Container Index Week 22/2026

Drewry’s World Container Index (WCI) for Week 22/2026 (from May 25 to May 31, 2026) continued its upward trajectory, recording a 3% increase compared to the previous week to reach $2,800/FEU.

Drewry's World Container Index Week 22/2026 (Photo: Phaata)

2. Asia-North America Ocean Freight Rates

Supply and Demand:

Operational capacity on the Trans-Pacific Eastbound (TPEB) route has recovered to over 90%. However, the cumulative impact of previous blank sailings, coupled with robustly growing transport demand, continues to significantly shrink available space across most major operational gateways.

Several service loops have recorded instances of rolled cargo as vessel utilization rates have remained highly elevated for consecutive weeks.

Transport demand is currently surging across all three main gateway regions: the Pacific Southwest (PSW), Pacific Northwest (PNW), and the U.S. East Coast (USEC). June space is filling up at an accelerated pace.

Forecasts indicate that blank sailings will remain high throughout Weeks 23 and 24 before gradually tapering off from Week 25 onwards. In this context, shippers should proactively implement booking plans 3 to 4 weeks in advance. For shipments with urgent or strict delivery requirements, the use of Premium Services should be strongly considered to secure vessel loading.

Rate Developments:

Ocean freight rates from Asia to the North America West Coast in Week 22/2026 increased by 2.51% week-on-week, reaching $3,228/FEU. This rate is up 13.78% month-on-month, according to Xeneta data.

The rate hike implemented on May 15 is currently being maintained across the entire Trans-Pacific Eastbound trade lane.

Facing the pressure of tightening space and escalating transport demand, carriers have collectively announced a new round of rate increases effective June 1. This adjustment is significantly higher than standard rate hikes and is expected to hold across the vast majority of Asia-North America gateways.

The Emergency Bunker Surcharge (EBS) continues to be applied through May. The market is currently anticipating an additional upward adjustment to the EBS effective June 1, with final decisions expected to be announced by carriers in late May.

Furthermore, most major carriers are implementing a Peak Season Surcharge (PSS) on long-term transport contracts starting June 1.

Should the space shortage persist and spot rates maintain their upward trend, the market is highly likely to see another PSS adjustment effective June 15.

Overall, the container shipping market on the Asia-North America route is entering its peak season earlier than usual. Given current space utilization rates and the capacity control policies of carriers, upward pressure on base rates and surcharges is highly likely to persist through the first half of June.

Stay tuned to Phaata International Logistics Marketplace for in-depth and fast market updates.

Asia-North America Freight Rates | Week 22/2026 (Photo: Phaata.com)

US Tariff Updates:

1. Establishment of a Section 232 Tariff Cap (15%) for Taiwanese Goods Effective May 27, the US Department of Commerce (DOC) officially implemented tariff provisions under the US-Taiwan Trade and Security Agreement. This new regulation adjusts the calculation method for Section 232 tariffs on goods originating from Taiwan and is applied retroactively to shipments entered for consumption, or withdrawn from warehouse for consumption, on or after May 1, 2026.

• Scope: Auto parts, lumber, timber, and processed wood products.

• 15% All-in Duty Rate Mechanism:

  • If the base Column 1 Duty Rate of the item is 15% or higher: the business will not be subject to additional Section 232 duties.

  • If the Column 1 Duty Rate is below 15%: Section 232 duties will be added until the total applicable duty reaches the 15% cap.

• Refund Operations: Documentation departments must review entries that have incurred Section 232 duties since May 1, 2026, to identify cases eligible for duty refunds via CBP’s Post-Entry Process.

2. Removal of Section 232 Tariffs on Taiwanese Civil Aviation Components In the same May 27 notice, the DOC officially lifted Section 232 tariffs on derivative steel, aluminum, and copper products classified as civil aviation components originating from Taiwan. This policy is administered under the new HTSUS heading 9903.96.03.

• Applicable HTSUS Codes: Includes items under Chapter 73 (iron/steel), Chapter 74 (copper), Chapter 76 (aluminum), and mechanical/electrical equipment under Chapters 84 and 85, such as hydraulic systems, air compressors, heat exchangers, transformers, and specialized electrical equipment for aircraft assembly.

• Exemption Conditions: Goods must simultaneously satisfy three criteria:

  1. Fall under an applicable HTSUS code within the authorized list;

  2. Originate from Taiwan;

  3. Meet civil aviation standards as defined under General Note 6. (This policy does not apply to military aircraft components or unmanned aerial vehicle (UAV) systems).

• Recommendation: Businesses within the aviation supply chain should audit their imported or in-transit goods inventory to identify shipments eligible for preferential tariffs and retroactive refunds dating back to May 1, 2026.

3. Operational Risks in the IEEPA Refund System (CAPE) CBP's explanatory report submitted to the US Court of International Trade (CIT) on May 26 reveals that the CAPE system is processing a massive volume of refunds. However, data errors on the part of businesses and customs declarants remain the primary cause of processing delays.

• Refund Progress: As of May 22, CAPE had received approximately 15.9 million valid entries. Of these, roughly 54% have completed liquidation or reliquidation with IEEPA duties successfully removed. Over the past two weeks, CBP has transferred approximately $60 billion to the US Department of the Treasury to execute refund disbursements.

• Common Errors Causing Initial Validation Rejection (approx. 50,000 files):

  • Importer of Record (IOR) or filer information does not match the data on the original entry.

  • Entry Number does not exist or is incorrectly formatted.

  • The CSV file does not comply with the data structure prescribed by the ACE system.

• Causes for Rejection Post-Validation:

  • The entry has exceeded the allowable timeframe for reliquidation.

  • The entry lacks an HTSUS code subject to IEEPA tariffs.

  • The entry was already submitted in a previous CAPE file.

• Disbursement Bottleneck: There are currently 4,185 approved refunds that cannot be disbursed because the Importer or customs broker has not registered or fully updated their Automated Clearing House (ACH) electronic bank account information in the CBP system.

• Recommendation: Importers should meticulously cross-reference IOR, Entry Number, and file data with CBP systems prior to CAPE submission. Furthermore, it is critical to confirm the ACH account status and verify the CSV file format against ACE standards to minimize the risk of file rejection or prolonged refund timelines. (Note: CBP has not yet announced the deployment schedule for CAPE Phase 2, which will handle entries liquidated past the 80-day mark).

Stay tuned to articles on the Phaata International Logistics Marketplace for rapid and in-depth market updates.

3. Asia-Europe Ocean Freight Rates

Supply and Demand: 

Transport demand on the Far East - Europe route surged in the second half of May as importers and retail networks accelerated import plans to secure space for June deliveries amid mounting risks of capacity shortages.

The continued diversion of vessels around the Cape of Good Hope is currently absorbing approximately 5–6% of global container shipping capacity. Simultaneously, carriers are maintaining strict capacity control policies via blank sailings across multiple major service loops. This is causing the actual supply of vessel space in the market to contract further.

Prolonged transit times due to the African detour, combined with rising export demand from Asia, are exacerbating empty container shortages at multiple key origin ports.

In North Europe, the simultaneous arrival of numerous ultra-large container vessels (ULCVs) at Rotterdam, Hamburg, and Antwerp has pushed yard utilization up to 85–90%. This situation is extending wait times for barges and feeder vessels by consecutive days, while heightening the risk of rolled cargo as June voyages enter their load finalization phase.

Under the current circumstances, shippers are advised to roll out bookings earlier than standard practice, confirm space allotments at the earliest possible stage, and strongly consider utilizing Premium Services for shipments with urgent delivery requirements.

Operations:

Singapore: Congestion at the Port of Singapore is escalating. Heavy cargo pressure combined with a large queue of arriving vessels is causing berthing wait times to trend longer than in previous weeks.

Chinese Ports: Delays at major Chinese export hubs persist. Clustered vessel arrivals, alongside intense operational pressure at container terminals, are prolonging wait times at multiple key ports.

North European Ports: Operational pressure at the ports of Rotterdam, Hamburg, and Antwerp remains severe. High volumes of calling vessels and dense container yard utilization are directly impairing cargo handling capacity and inland transport connections.

Freight Rate Developments: 

Ocean freight rates from Asia to Europe in Week 22/2026 increased by 3.65% week-on-week, reaching $2,841/FEU. This rate is up 15.35% month-on-month, according to Xeneta data.

The Shanghai Containerized Freight Index (SCFI) for the Far East - North Europe route continued its upward climb for the fourth consecutive week, rising nearly 5% week-on-week. On the Far East - Mediterranean route, the index also recorded an increase of approximately 2% over the same period.

Notably, the Freight All Kinds (FAK) rate baseline applied for June has already surged by roughly 30% compared to May levels. This marks one of the most drastic rate adjustments seen year-to-date on the Far East - Europe trade lane.

Carriers are currently rolling out multiple rounds of FAK rate hikes concurrently, complemented by the application of Emergency Bunker Surcharges (EBS) and Peak Season Surcharges (PSS).

With space filling up rapidly, capacity supply remaining tightly controlled, and empty container shortages worsening at many origin ports, negotiating leverage has decisively shifted in favor of the carriers.

In the short term, ocean freight rates on the Far East - Europe route are forecast to remain highly elevated, as transport demand in June continues to surge while capacity supply shows no signs of significant improvement.

Stay tuned to Phaata International Logistics Marketplace for in-depth and fast market updates.

Asia-Europe Freight Rates | Week 22/2026 (Photo: Phaata.com)

4. North America - Asia Ocean Freight Rates

Ocean freight rates from North America (West Coast) to Asia in Week 22/2026 increased by 2.41% week-on-week, settling at $637/FEU. This rate is down 0.62% month-on-month, according to Xeneta data.

North America (West Coast) - Asia freight rates | Week 22/2026 (Photo: Phaata.com)

5. Northern Europe - Asia Ocean Freight Rates

Ocean freight rates from North Europe to Asia in Week 22/2026 remained unchanged from the previous week, maintaining the $239/FEU mark. This rate is down 5.53% month-on-month, per Xeneta data.

Container Freight rates from Northern Europe to Asia | Week 22/2026 (Photo: Phaata.com)

6. Conclusion and Recommendations from Phaata

Week 22/2026 recorded a simultaneous upward trend in both transport demand and freight rates across most key international container shipping routes. Drewry's WCI index continued its ascent to $2,800/FEU, reflecting a global ocean freight landscape heavily impacted by surging import demand in both the North American and European markets.

On the Asia - North America route, transport demand continues to surge across all major gateways, including the PSW, PNW, and USEC. Despite operational capacity rebounding to over 90%, space remains heavily constrained due to the lingering effects of previous blank sailings. Cargo rolling has already begun on select services, while carriers collectively rolled out base rate hikes, EBS, and PSS surcharges from early June.

Regarding the Asia - Europe route, early importing activities by retailers and importers are exerting immense pressure on the entire transport chain. The ongoing vessel diversions via the Cape of Good Hope, empty container shortages at origin ports, and prolonged congestion at North European hubs are severely degrading actual operational capacity in the market. June FAK rates have spiked roughly 30% against May, signaling that the upward pricing trend is solidly in motion.

Recommendations from Phaata

Recommendations for Import-Export Businesses:

- Proactively structure booking plans 3 to 4 weeks in advance for shipments scheduled to move in June and early July to mitigate the risks of space shortages or rolled cargo.

- Closely monitor carrier notices regarding base rate adjustments, EBS, and PSS to proactively update logistics budgets and cost planning.

- For shipments requiring strict on-time delivery or serving the peak sales season, strongly consider utilizing Premium Services or FAK rates to enhance the likelihood of securing space confirmations.

- Exporters in Asia must keep a tight watch on the availability of empty containers at key origin ports, particularly for Europe-bound cargo, to limit the risk of delays in stuffing operations.

- US Importers must audit all records pertaining to Section 232 and IEEPA tariffs, verifying the accuracy of IOR data, Entry Numbers, ACH accounts, and CAPE submissions to safeguard refund entitlements and minimize processing errors.

- Businesses with supply chains tied to Taiwan, particularly within the auto parts, wood products, and civil aviation sectors, should immediately assess their eligibility for preferential tariffs and retroactive refunds under the US Department of Commerce's newly issued regulations.

In the short term, the international container shipping market is highly likely to sustain a state of constrained supply alongside elevated transport demand. Consequently, proactive transport planning, stringent logistics cost control, and diligent tracking of trade and tariff policy shifts will be critical factors enabling businesses to mitigate risks and maintain stability in their import-export operations.

Stay tuned to articles on Phaata.com or Phaata fanpage for rapid and in-depth market updates.

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Source: Phaata -  Vietnam's First International Logistics Marketplace

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