Trans-Pacific Container Rates Plateau as Asia-Europe Rates Jump, Xeneta Says

Trans-Pacific container spot rates were largely flat last week, signaling the market has peaked and will likely soften through the remainder of 2026, according to analyst Xeneta. Asia-to-U.S. West Coast rates edged up 0.2% in the week ending Oct. 23 to $8,311 per forty-foot equivalent unit, while East Coast rates also rose 0.2% to $11,525 per FEU. "This confirms the U.S. trades have peaked and we expect them to soften through the remainder of 2026," said Peter Sand, Xeneta's chief analyst. West Coast rates remain 18.9% above July 1 and 342% above the Feb. 28 pre-Hormuz crisis benchmark; East Coast rates are up 31.7% and 335%, respectively. In contrast, Asia-North Europe spot rates rose 6.8% to $3,698 per FEU, and Mediterranean rates climbed 5.8% to $4,442, reversing declines since July despite capacity returning to the Red Sea. Sand called the divergence "a conundrum," noting Asia-Europe volumes rose 12.2% in the first seven months of 2026. North Europe rates remain 33.2% below July 1 levels.