Global container freight rates rose for a third consecutive week as carriers pushed higher prices across East-West trade lanes amid signs of an earlier-than-usual peak shipping season, reports LA’s Global Trade Magazine.
Drewry said its World Container Index climbed 6 percent this week to US$2,712 per 40-foot container, extending gains through May.
The Asia-Europe corridor saw the sharpest increases, with tightening vessel space and higher Freight All Kinds pricing driving spot rates upward.
Rates from Shanghai to Rotterdam jumped 15 percent week-on-week to $2,773 per FEU, while Shanghai-Genoa pricing rose 10 percent to $4,082 per FEU.
Carriers are keeping more capacity active, with few blank sailings planned, to capture strengthening demand.
CMA CGM announced new FAK pricing effective June 1, setting rates at about $4,700 per FEU into North Europe and up to $5,700 per FEU into Mediterranean ports.
Analysts said early peak-season cargo demand and firm pricing discipline are likely to sustain upward pressure.
Transpacific routes also strengthened, though more modestly.
Shanghai-New York spot rates rose 2 percent to $4,317 per FEU, while Shanghai-Los Angeles edged up 1 percent to $3,385 per FEU.
Blank sailings are tightening capacity on US-bound trades.
Ocean Network Express announced a new Peak Season Surcharge of $2,000 per FEU on east-bound transpacific shipments starting June 1.
Rising bunker fuel costs, emergency surcharges and Gulf shipping uncertainty are adding to market pressures.
Analysts said the mix of higher FAK rates, reduced sailings and stronger cargo volumes is restoring carrier pricing power across key trade lanes, with further increases expected in coming weeks.
Greta Shipping adds Jeddah call to RS1 service
Greta Shipping has added Jeddah Islamic Port to its RSI container service, expanding the route beyond Salalah and Djibouti, reported Saint Petersburg’s Port News.
The Saudi Ports Authority said the service has capacity of 1,730 TEU and is intended to strengthen Saudi Arabia’s maritime connectivity, import and export flows, and supply chain fluidity.
The RSI service had previously operated only between Salalah and Djibouti.
The addition of Jeddah Islamic Port marks a significant expansion of the network.
Jeddah Islamic Port has 62 multipurpose berths and annual capacity of 130 million tonnes.
Mawani, the Saudi Ports Authority, regulates and develops the country’s port system.
Greta Shipping Pte Ltd, established in 2024 and registered in Singapore, focuses on feeder services and vessel investment.
The company is wholly owned by China’s Xiamen C&D Group.
Asia-Europe demand rises ahead of July bunker hike
Cargo owners are accelerating shipments on the Asia-Europe trade to avoid higher bunker fuel costs due from July 1, reported London’s S&P Global.
Bunker prices surged after the Middle East war began in February, with emergency surcharges applied to spot shipments.
Contract cargo is tied to quarterly bunker adjustment factors, which will increase rates in the third quarter, according to CEVA Logistics senior vice president Thomas Cassuto.
Cassuto said demand in late May is strong across Asia-North Europe and Asia-Mediterranean lanes, with bookings up sharply as shippers move cargo before the July deadline.
Data from Vizion driven shows China-Mediterranean bookings up almost 50 percent in two weeks, while China-North Europe rose 36 percent.
Forwarders Kuehne + Nagel and DHL Global Forwarding reported robust bookings and rising rates despite increased capacity and fewer blank sailings.
Capacity on Asia-North Europe in May is up 16 percent from April at 1.2 million TEU, with blank sailings down 5 percent, according to eeSea.
Paolo Montrone of Kuehne + Nagel said demand is partly driven by extended transit times and reduced capacity from rerouting around the Cape of Good Hope.
DHL said vessels are operating at full capacity and bookings must be made well in advance.
Analysts expect demand to remain strong into summer, though visibility is limited as energy costs and freight rates continue to weigh on the market.
Sinotrans orders 12 box ships from China yards
Sinotrans, part of China Merchants Energy Shipping, has placed orders for 12 containerships across three affiliated shipyards, reported LA’s Index box.
The order is split into three groups of four vessels each.
The largest ships, with a capacity of 8,200 TEU, will be built at China Merchants Heavy Industry in Jiangsu.
Four vessels of 3,000 TEU are scheduled for construction at China Merchants Jinling Shipbuilding in Nanjing, while the remaining four units of 1,800 TEU will be built at Wuhan Qingshan Shipyard under China Merchants Shipbuilding Industry Group.
Combined, the 12 vessels will add about 52,000 TEU to the fleet, marking a significant expansion for the Chinese carrier.
Deliveries are expected to begin in 2027.
ONE revamps Asia- Europe routes via Cape of Good Hope
Ocean Network Express (ONE) has restructured its FE and FE3 Asia North Europe services, with updated rotations aimed at improving schedule reliability and transit times via the Cape of Good Hope.
The FEI service gains direct coverage to Le Havre from South East Asia, replacing the current Algeciras call.
The revised rotation runs: Laem Chabang Cai Mep – Singapore-Cape of Good Hope- Rotterdam – Hamburg-Le Havre – Cape of Good Hope-Singapore – Laem Chabang.
The change commences with ONE Hamburg v0085 W/E, arriving Laem Chabang 6 June 2026 and Le Havre 27 July 2026.
The FE3 service is resequenced to deliver faster transit to Antwerp and Felixstowe, dropping the current Algeciras call.
The new rotation runs: Qingdao – Ningbo – Yantian Singapore – Cape of Good Hope Felixstowe – Antwerp – Hamburg – Cape of Good Hope – Qingdao.
This commences with HMM Dublin v0019W/E, arriving Qingdao 11 June 2026 and rope Felixstowe 29 July 2026.
Both changes take effect from June 2026.
Busan port holds No 2- transshipment spot
Busan Port maintained its position as the world’s second-largest transshipment hub with 14.1 million TEU last year, but industry voices warn that only a maritime finance hub strategy centred on relocating Korea Development Bank can secure long-term competitiveness, reported the Seoul Economic Daily.
Busan handled a record 24.88 million TEU in 2025, with transshipment rising 4.4 percent to 14.1 million TEU.
Expansion of Busan New Port, automated infrastructure and investment attraction exceeding 14 trillion won over three years supported the growth.
Analysts caution that Malaysia’s Tanjung Pelepas and major Chinese ports are mounting aggressive challenges, backed by national-level support.
Structural shifts in global shipping alliances and supply chains are intensifying concerns over Busan’s midto long-term competitiveness.
Industry officials argue that relocating KDB to Busan is critical.
They note Singapore’s port strength is tied to its financial hub function, and only by integrating shipping, logistics, shipbuilding and finance can Busan maintain a decisive edge.
Regional initiatives such as the proposed Southeast Investment Corporation are seen as insufficient.
Experts warn that delays in KDB relocation risk stalling Busan’s maritime finance hub momentum, leaving the port vulnerable to rivals.
Logistics experts emphasise that Busan’s competitiveness must be treated as a national industrial strategy.
They say combining smart port transformation, Gadeokdo New Airport links, North Port redevelopment and hinterland expansion with financial agglomeration is essential for Busan to challenge Singapore’s top rank.