Global – October 17, 2026 -- Transpacific container rates remain at about $7,600/FEU to the US West Coast and $9,500/FEU to the East Coast, matching levels last seen in the 2024 peak season, even as weekly Freightos Baltic Index readings slipped 1% to 3% across major lanes.
Ocean indexes ease 1% to 3% on all four tracked lanes
Asia-US West Coast prices (FBX01) fell 1% and Asia-US East Coast prices (FBX03) fell 3%. Asia-N. Europe (FBX11) dropped 3% and Asia-Mediterranean (FBX13) declined 1%. The transpacific cooldown points to no further rate increases in what is likely the final weeks of peak season, though elevated demand since late May has held prices at peak levels since early July.
Typhoon congestion and blanked sailings keep capacity tight
Severe typhoon-driven congestion at Far East container hubs is likely contributing to current rates. Carriers have added blanked sailings this week, possibly to recover storm-disrupted schedules, which could keep prices elevated even if demand has begun to ease.
Hormuz tensions lift bunker and jet fuel about 60% above pre-war levels
Iran has announced plans for a wider exclusion zone near the Strait of Hormuz as tensions with the US climb. Fuel rates have trended up since the ceasefire collapse in July. Escalation and higher Chinese crude imports have returned bunker fuel to June levels, while jet fuel is back at May levels. Both fuels are about 60% higher than before the war began. Higher fuel costs are likely setting an elevated floor for container rates, but demand and capacity disruptions remain the main price drivers.
Mediterranean rates fall 37% from peak, outpacing N. Europe's 23% decline
Asia-N. Europe rates eased to $4,500/FEU and Asia-Mediterranean to $4,700/FEU. Mediterranean prices have since dropped to about even with N. Europe this week. Since 2017, Mediterranean rates have averaged 17% above N. Europe levels.
The Mediterranean decline from peak-season highs is $2,600/FEU, or 37%, against $1,300/FEU, or 23%, for N. Europe. More Red Sea transits on some Mediterranean services may explain part of the gap, while congestion at N. Europe hubs keeps upward pressure on those lanes. Both lanes remain $1,000 to $1,700/FEU above pre-peak levels. Recent port worker strikes in Germany and the Netherlands are adding to the backlog.
Panama Canal postpones draft cut but trims daily transits to 32
The Panama Canal Authority has postponed an additional half-foot draft reduction for Neopanamax transits until further notice. It is still bracing for drought conditions from the expected El Nino. The authority cut daily transits by four to 32 this month, while Neopanamax slots, used by long-haul container vessels, fell by only one.
Air cargo rates from the Far East rise about 5% to $6.30/kg to the US
China-North America air rates rose 5% and China-N. Europe rates rose 6%, while N. Europe-North America rates were flat. Far East rates reached $6.30/kg to the US and $4.88/kg to Europe, possibly reflecting disruption from the latest typhoon. Miami International Airport has returned to normal operations after an Amazon freighter crash on Sunday. Authorities have reopened most Indonesian airports closed since late Friday by a volcanic eruption.