An early peak season has sent container freight rates surging across global trade lanes, with the Drewry World Container Index jumping 23% week-over-week to $3,433/40ft as of June 4. Asia-to-U.S. West Coast spot rates have climbed 109% since the onset of the Iran conflict, reaching $3,933/FEU, while Asia-to-East Coast rates are up 75%. The surge is driven by front-loading ahead of potential tariff increases, ongoing Red Sea and Strait of Hormuz diversions adding 10-14 days to transit times, and severe port congestion in Shanghai and Northern Europe. CMA CGM, MSC, Hapag-Lloyd, and Maersk have all rolled out peak season surcharges and base rate hikes ranging from $300 to $1,000 per container throughout June, with MSC announcing FAK rates of $3,000/20ft and $6,000/40ft for the second half of June.
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