International Shipping and Logistics Market Update Week 6/2026 | Phaata

International shipping and logistics market update - Week 6/2026

Table of Contents

1. World Container Index Week 6/2026

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 6/2026

Drewry’s World Container Index (WCI) for Week 6/2026 (February 2 – February 8, 2026) continued to decline by 7% week-on-week, dropping to $1,959/FEU. This marks the fourth consecutive week of decline, primarily driven by falling rates on Transpacific and Asia-Europe trade lanes.

Drewry's World Container Index Week 6/2026 (Photo: Phaata)

2. Asia-North America Ocean Freight Rates

The Asia to North America West Coast market in Week 6/2026 marks the end of the "phantom peak season." The market on this route is operating in a state of weak equilibrium. Demand lacks the strength to push prices up, forcing carriers to switch to a "risk management" tactic: accepting slightly lower rates to aggregate cargo and scheduling dense blank sailings for the post-holiday period. This is the quiet before the market enters a phase of extreme supply adjustment in late February.

Supply and Demand:

Demand Side:

Cargo volumes have maintained a steady pace since December, with no surge in this week leading up to Tet. This year, the "Tet cargo fever" was nullified by two factors:

• Front-loading: Shippers pushed cargo out early, 3-4 weeks in advance.

• Timing: The late arrival of Tet (mid-February) helped spread the pressure over 6 weeks instead of compressing it into 3 weeks like in previous years.

Supply Side: 

Week 6-7 Timing: Carriers are maintaining available capacity at around 85-88% until close to the Tet holiday. The goal is to clear the last remaining cargo backlogs at Asian ports.

Cargo Aggregation Strategy: The market is beginning to record intentional "cargo rollings." This is not due to a genuine lack of space, but rather a carrier technique to build a "rolling pool." This cargo volume will be used to fill the few remaining vessels during the upcoming blank sailing period.

Post-Tet Forecast: A large-scale blank sailing plan has been activated, starting from the last week of February and extending throughout the first half of March. This is a "belt-tightening" measure to prevent a sharp rate drop when factories close.

Rate Developments:

Ocean Freight rates from Asia to the North America West Coast in Week 6/2026 (Feb 2–Feb 8) continued to drop sharply by 8.41% week-on-week, falling to $2,025/FEU. This represents a 28.22% decrease month-on-month, according to Xeneta data.

February GRI Cancelled: All carriers have officially withdrawn their General Rate Increase (GRI) announcements for February. Instead, carriers are moving to adjust rates downward to attract cargo. However, the rate of decline is slowing as carriers begin to "close books" before Tet.

PSS Delayed to March: The Peak Season Surcharge (PSS) has been pushed back to March. With Tet only just over a week away, moving the PSS to March is essentially a polite way of saying the PSS for this Tet season is cancelled. The current market completely lacks the pressure to support any additional surcharges.

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

Asia-North America Freight Rates | Week 6/2026 (Photo: Phaata.com)

US Tariff Updates:

This week marks the triumph of US energy diplomacy. The US-India agreement is not just about trade, but a geopolitical shift: India commits to buying $500 billion of US goods to escape punitive tariffs. Meanwhile, domestically in the US, the era of paper check drawback officially ends. On the northern and southern borders, Canada and Mexico face risky new tariff threats.

1. Focal Event: US - India Agreement ($500 Billion Boost)

On Feb 2, 2026, the US and India announced a landmark trade deal, reshaping the Asia-US supply chain. "Lower Tariffs for Energy" Mechanism:

US Concessions:

• Reduce reciprocal tariff from 25% to 18%.

• Completely remove the 25% punitive tariff (applied since last August due to India buying Russian oil).

• Result: The effective total tax rate on Indian goods drops shockingly from 50% to 18%. This is a golden opportunity for importers of textiles, footwear, and pharmaceuticals from India.

India Commits:

• Stop buying Russian oil. Instead, purchase large quantities of oil from the US and (possibly) Venezuela.

• Buy $500 billion of US energy, technology, agricultural products, and coal.

• Remove tariffs and non-tariff barriers for US goods.

President Trump declared immediate effect, but there is no Executive Order or notice in the Federal Register yet. Businesses need to wait for official legal text before applying it to cost calculations.

2. Financial Compliance: Electronic Drawback Era (Starts Feb 6)

From tomorrow, Feb 6, 2026, CBP officially stops issuing paper checks for duty drawbacks (except for rare cases). All drawbacks (Drawback, Reconciliation, Post Summary Correction...) will be direct deposited. Importers must activate their ACE Portal accounts and set up banking information immediately. Delays will cause drawback cash flow to be "suspended" indefinitely at the Treasury.

3. US - Europe Relations: "Thaw"

On Feb 4, the European Parliament agreed to restart the ratification process for the trade agreement with the US (after the US withdrew the 10% tariff threat over Greenland). EU lawmakers could vote to pass it as early as Feb 24. Currently, EU goods entering the US are still subject to a minimum 15% tariff (applied since last August). The new deal promises to remove this barrier.

4. North America & Caribbean Tensions: Oil and Aircraft Risks

Cuba & Mexico (Oil Risk): Jan 29 Executive Order: US threatens tariffs on countries supplying oil to Cuba. Mexico (supplying 44% of oil to Cuba), Russia, and Algeria are at risk. Although Mexico has temporarily paused oil shipments due to domestic shortages, the Mexican President's recent "humanitarian aid" pledge could trigger US sanctions. Supply chains from Mexico face new tariff risks.

Canada (Aircraft Risk): Threat of 50% tariff on all Canadian aircraft if the country does not certify US Gulfstream jets. US-Canada tensions are escalating following the 100% tariff threat related to China last month.

5. US Signs Agreement with Central American Countries (El Salvador & Guatemala):

Signed agreement to remove reciprocal tariffs for goods complying with CAFTA-DR. This is a good signal for the Nearshoring wave (shifting production closer to the US).

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

3. Asia-Europe Ocean Freight Rates

The Asia - North Europe market in Week 6 (Feb 2 – Feb 8, 2026) has officially entered a quiet phase before the Lunar New Year. Cargo pressure has been relieved, giving way to final warehouse clearing activities. However, the current challenge lies not in finding space, but in equipment management at origin and handling operational congestion at destination due to extreme weather.

On supply and demand: 

Demand: Spot demand is decelerating sharply. The last urgent shipments have left port. Manufacturing activity in China is beginning to slow down in preparation for holiday closures.

Supply: To respond to plummeting demand, carriers have activated an aggressive blank sailing program for February. Strategic objectives have shifted entirely from maximizing volume to managing utilization rates. At transshipment hubs like Singapore, carriers are proactively accumulating a rolling pool to ensure sufficient load factors for the few remaining vessels on the reduced schedule.

On Operations and Container Equipment Situation:

Network fluidity is being severely challenged by objective factors and overload conditions:

Asian Hubs:

• Local Equipment Shortage: Despite overall demand dropping, a scarcity of 40’ HC containers persists in Shanghai and Ningbo. The cause is shippers simultaneously "clearing floors" at the last minute.

• Singapore Congestion: Carrier aggregation strategies have kept container dwell times here high, around 7 days.

North Europe Hubs:

• Operational flow remains severely constrained by winter weather.

• Yard Utilization at Alarm Levels:

  • Rotterdam: ECT (80%), RWG (85%), and especially Maasvlakte II (APMT MVII) hitting the critical threshold of 95%.

  • Hamburg: HHLA CTA (85%) and Eurogate CTH have reached 100% (ceiling).

• Hinterland Connectivity: Rail backlogs in Germany remain unresolved, causing delays of 4 to 6 days in clearing cargo inland.

Freight Rate Developments: 

Ocean Freight rates from Asia to Europe in Week 6/2026 continued to drop sharply by 11.01% to $2,353/FEU. This represents a 17.35% decrease month-on-month, according to Xeneta data.

This is a natural downward correction as demand urgency has passed and the market looks toward bookings for mid-February shipments (post-Tet). Despite the drop, rate levels remain significantly higher than historical averages, supported by voyage costs via the Cape of Good Hope and capacity management discipline.

Dense blank sailings in Weeks 7 to 9 are creating a "floor" for the market, preventing a rate collapse despite low demand. The trading environment is expected to remain: Stable but Expensive compared to pre-pandemic times.

Forecast: Shippers need to prepare for a space crunch immediately after the holiday (early March). When factories reopen, deeply cut supply (due to blank sailings) will clash with recovering demand, potentially causing a short-term fierce competition for space. This could cause rates to bounce back in the second half of Q1.

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

Asia-Europe Freight Rates | Week 6/2026 (Photo: Phaata.com)

4. North America - Asia Ocean Freight Rates

Ocean Freight rates from North America (West Coast) to Asia in Week 6/2026 reversed to a decrease of 0.98% week-on-week, falling to $609/FEU. This represents a 2.87% increase month-on-month, according to Xeneta data.

North America (West Coast) - Asia freight rates | Week 6/2026 (Photo: Phaata.com)

5. Northern Europe - Asia Ocean Freight Rates

Ocean Freight rates from North Europe to Asia in Week 6/2026 reversed to a sharp decrease of 17.09%, falling to $131/FEU week-on-week. This represents a 17.61% decrease month-on-month, according to Xeneta data.

Container Freight rates from Northern Europe to Asia | Week 6/2026 (Photo: Phaata.com)

6. Conclusion and Recommendations from Phaata

The international logistics market in Week 6/2026 is defined by 3 core trends:

"Soft Landing" Market: The WCI dropping for the 4th consecutive week and the absence of peak season surcharges (GRI/PSS) confirm that Tet cargo pressure has ended. The market is finding a new equilibrium with more palatable rates for shippers.

Carriers Cutting Upcoming Supply: Carriers are quietly accumulating a "rolling pool" and scheduling extreme blank sailings for February and March. The current rate drop is the prelude to an upcoming space squeeze.

Reshaping the Sourcing Map (US - India Deal): The reduction of import tariffs on Indian goods into the US from 50% to 18% is a massive impact on the global supply chain. The competitive advantage of Vietnamese and Chinese textiles and footwear is under direct threat.

Recommendations from Phaata

This phase requires alertness: Take advantage of current cheap rates, but Defend for the near future.

1. Transport Tactics (Immediate Action Pre-Tet):

Don't wait until you return to work to book vessels. Post-Tet supply will drop 30-40% due to blank sailings. Work with your Forwarder to secure space for shipments expected to leave factories in the first week of March right now.

Despite falling demand, 40'HC empties are still short in China. Therefore, pay attention and ensure empty containers are picked up before stuffing to avoid the risk of last-minute rollings.

2. Sourcing Strategy (Reacting to US - India Deal):

US importers need to ask their procurement department to recalculate logistics costs for goods from India with the new 18% tariff. This is the time to consider shifting a portion of orders from China to India.

Warning for Vietnamese Exporters: The textile and footwear sectors need to prepare for a fiercer price competition scenario in the US market in 2026 as Indian competitors are "unshackled."

3. Financial Compliance:

Tomorrow, Feb 6, CBP stops paper check drawbacks. Accounting/Finance departments must complete electronic refund account setup early. Any delay will cause cash flow bottlenecks.

4. Operational Risk Management in Europe:

With 100% yard density in Hamburg and 95% in Rotterdam due to blizzards, imports into the EU will undoubtedly be delayed. Notify customers to add 7-10 days to Lead times and prepare temporary storage plans to avoid soaring Demurrage/Detention fees.

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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