Peak Season and Hormuz Crisis Fuel New Surge in Container Shipping Rates

Container freight rates are rising sharply across major east-west trades as the conflict in the Middle East, disruption at key Asian transshipment hubs, and growing fears of an energy crisis combine to tighten supply chains and fuel a new wave of market volatility.

According to the latest market update from Xeneta, average spot rates from the Far East to the U.S. West Coast climbed 20% over the past week to $3,933 per FEU, more than doubling since the onset of the Middle East crisis on February 28. Rates on the trade are now 109% higher than pre-conflict levels.

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