Sea-Intelligence

Shipping Arabia, September 20, 2026 – Container freight rates from Asia to the Mediterranean fell 12% to around $4,200 per FEU last week, as shipping lines continued restoring capacity through the Red Sea and Suez Canal despite renewed uncertainty around the Bab el-Mandeb.

Latest estimates from Sea-Intelligence indicate that more than a quarter of Asia-Europe capacity will operate through the Red Sea during September. Around 35% of headhaul capacity from Asia to the Mediterranean and 50% to 60% of return capacity has been restored through the Suez Canal.

The recovery has been slower on the Asia-North Europe trade, where only 6% of headhaul and 30% of backhaul capacity has returned to the route.

According to Freightos, the additional capacity and shorter transit times provided by returning to the Red Sea, combined with easing demand following the peak season, are contributing to downward pressure on freight rates.

Asia-Mediterranean rates dropped 12% to about $4,200 per FEU, while Asia-North Europe rates declined 3% to approximately $4,300. Daily rates on both trades have since fallen to around $3,800 per FEU.

The Mediterranean market has recorded the sharper correction. Rates from Asia are now around $3,000 per FEU below their July peak, compared with a decline of about $2,000 on the North Europe trade, reflecting the faster restoration of Red Sea capacity.

Rates nevertheless remain significantly above pre-peak-season levels, with congestion at Far East origin ports and North European hubs continuing to affect schedules and available capacity. Higher fuel costs and operational uncertainty could also influence carriers’ decisions over the pace of further Red Sea and Suez deployments.

Transpacific rates, meanwhile, moved slightly higher as strong demand and congestion continued to support spot markets. US import volumes are expected to begin easing, with October shipments forecast to fall 9% from September before declining further in November.

The contrasting trends underline how the gradual restoration of Red Sea and Suez Canal services is beginning to reshape capacity and freight-rate dynamics on Asia-Mediterranean trades, even as carriers continue to manage operational risks and congestion across major east-west networks.

Source: Almal News