Far East–US Spot Rates Rise More Than Fourfold

Updated 22 September 2026 | Market benchmarks dated 17 September; carrier advisories updated through 18 September 2026

Short answer: Ocean freight rates have not quadrupled on every global trade lane. Particularly sharp pressure is currently visible in Far East–US spot markets. Xeneta’s market average for the Far East to the US East Coast reached USD 11,259 per 40-foot container on 17 September 2026—up 324.7% from 28 February, or approximately 4.25 times the pre-Hormuz-crisis level.

Higher bunker costs, security risks, alternative routing, port congestion and carrier capacity management are making rates and vessel space more volatile. Importers and exporters should therefore avoid using a previous booking’s price as the budget for a new shipment without revalidation.

What is happening to ocean freight rates?

Rates are rising rapidly on some trades—especially the Far East to the United States—but the increase is not uniform across the global market.

Xeneta: Far East–US East Coast

• Reference rate: USD 11,259/FEU
• Change: +324.7% since 28 Feb 2026
• Data date: 17 Sep 2026

Xeneta: Far East–US West Coast

• Reference rate: USD 7,960/FEU
• Change: +323.6% since 28 Feb 2026
• Data date: 17 Sep 2026

Drewry WCI: Shanghai–New York

• Reference rate: USD 10,394/40ft container
• Change: +7% week on week
• Data date: 17 Sep 2026

Drewry WCI: Shanghai–Los Angeles

• Reference rate: USD 7,712/40ft container
• Change: +5% week on week
• Data date: 17 Sep 2026

An FEU (Forty-foot Equivalent Unit) represents one 40-foot container. A TEU (Twenty-foot Equivalent Unit) represents one 20-foot container. Freight indices can show different numbers because they use different datasets, methodologies, port pairs and rate inclusions.

Xeneta reported that the Far East–US East Coast average was still 11.2% below its COVID-era record, while the US West Coast average was 17.9% below its previous peak. A new record is therefore possible, but it is a forecast—not a confirmed outcome.

Why does the Strait of Hormuz disruption affect shipping costs?

The Strait of Hormuz is a critical energy chokepoint. When oil flows and vessel operations are disrupted, bunker fuel, insurance and operating costs can rise at the same time.

UN Trade and Development (UNCTAD) estimates that roughly one quarter of global seaborne oil trade passes through the Strait of Hormuz. It has also reported rising tanker freight rates, war-risk insurance premiums and marine fuel costs during the disruption. These pressures can move through the wider shipping network even when a container does not transit the strait directly.

Four factors matter most:

1. Higher bunker fuel costs: Rising crude and marine fuel prices lead carriers to revise fuel surcharges and bunker adjustments.
2. Longer or more complex routing: Avoiding high-risk areas, using alternative ports or adding land transport increases time and cost.
3. Insurance and crew risk: War-risk cover, vessel insurance and crew compensation can add route-specific costs.
4. Tighter effective capacity: Blank sailings, port congestion and pre-China Golden Week demand can reduce available space on selected trades.

Is an emergency surcharge the same as the freight rate?

No. The freight rate is the core transportation charge. An emergency surcharge is an additional charge applied according to a carrier’s route, equipment, contract and effective-date rules. A fourfold move in a spot-rate benchmark does not mean every emergency surcharge has risen fourfold.

Common labels include Bunker Adjustment Factor (BAF), Emergency Fuel Surcharge (EFS), Emergency Bunker Surcharge (EBS), Emergency Conflict Surcharge (ECS), Peak Season Surcharge (PSS) and Operational Cost Recovery (OCR).

Recent carrier announcements illustrate the difference:

CMA CGM – Emergency Fuel Surcharge: Headhaul trades

• Published amount: Dry USD 265/TEU; Reefer USD 320/TEU
• Effective date: 1 Oct 2026

CMA CGM – Emergency Fuel Surcharge: Backhaul and intra-regional trades

• Published amount: Dry USD 75/TEU; Reefer USD 90/TEU
• Effective date: 1 Oct 2026

Maersk – Emergency Freight Rate

• Example scope: Existing bookings/cargo in transit to or from specified Gulf ports
• Published amount: USD 1,800/20' Dry; USD 3,000/40' Dry; USD 3,800/Reefer, Special or DG
• Updated: 16 Sep 2026

Maersk – Strait transit fee

• Example scope: Existing bookings/cargo in transit on vessels transiting Hormuz
• Published amount: Additional USD 1,000/container
• Updated: 16 Sep 2026

These are carrier-specific examples, not universal market tariffs. Maersk presents the figures above under Existing Ocean bookings and cargo in transit, covering specified ports in Iraq, Kuwait, Dammam and Jubail in Saudi Arabia, Bahrain, Qatar, the United Arab Emirates and Oman except Salalah. The amount charged on an actual booking depends on origin, destination, sailing date, commodity, equipment, contract terms and regulatory requirements.

Have rates increased on every trade lane?

No. Rate direction varies by lane. On 17 September, Drewry reported increases from Shanghai to New York and Los Angeles, but a 5% weekly decline from Shanghai to Genoa and a 9% decline from Shanghai to Rotterdam. Freightos also observed that the most direct container disruption remained concentrated on Gulf-linked cargo, while other trades were affected indirectly by fuel costs, congestion and capacity allocation.

Shippers should therefore focus on the actual port pair and routing rather than a single global headline. A Shanghai–New York benchmark is not a quotation for Laem Chabang–Los Angeles, and an index rate is not an all-in price for every commodity or container type.

What does this mean for Thai importers and exporters?

Thai shippers may face faster rate changes, shorter quote validity, uncertain space and extra costs linked to routing or transshipment. The actual impact depends on the carrier, trade lane, departure date and cargo type.

Possible effects include:

• Shorter quotation validity and mandatory revalidation before confirmation
• EFS, EBS, ECS, PSS, OCR, war-risk or contingency charges added to base freight
• Changes to schedules, transshipment ports and transit times
• Rollover, blank sailings or shortages of specific equipment
• Higher storage, demurrage or detention exposure at congested ports
• Special exclusions or conditions in cargo insurance for high-risk areas

What should shippers check before confirming a booking?

Check rate, space and routing together. A low headline price is not a good option if space is unconfirmed, the routing creates delay risk or important surcharges are excluded.

Use this eight-point checklist:

1. Rate validity: Confirm the expiry date and whether pricing follows booking date, Price Calculation Date, ETD or gate-in date.
2. Included and excluded charges: Ask whether base freight, BAF/EFS/EBS, PSS, war risk, THC and local charges are included.
3. Cargo details: Verify equipment, weight, commodity and any DG, reefer or out-of-gauge requirements.
4. Space and equipment: Confirm actual vessel space and container availability, not only a provisional schedule.
5. Routing: Check every transshipment point and whether the route involves Hormuz, the Red Sea or another high-risk area.
6. Timing: Verify ETD, ETA, cut-off, lead time and a realistic delay buffer.
7. Destination costs: Review free time, storage, demurrage, detention, customs and delivery charges.
8. Insurance and alternatives: Confirm war-risk coverage and compare alternative carriers, ports, routes or transport modes.

Transpo Tip: Request an all-in quotation that states the routing, validity, free time and each surcharge on a separate line. It is much more reliable for decision-making than comparing base freight alone.

How should businesses plan during a volatile market?

Use scenarios and review the market weekly instead of setting a budget from one data point. Businesses with recurring shipments should rank cargo by urgency, separate flexible shipments from critical ones and prepare a backup carrier or route.

• Share forecasts earlier so the forwarder can assess space and equipment
• Separate “must ship” cargo from shipments that can wait
• Compare FCL and LCL when cargo volume is near the full-container break-even point
• Include fuel, emergency, storage and insurance buffers in landed-cost planning
• Reconfirm routing and ETA before final documents are issued
• Record the date and source of every benchmark used in a decision

Frequently asked questions about ocean freight rates in 2026

Have ocean freight rates quadrupled on every route?

No. The more-than-four-times comparison applies to the Far East–US East and West Coast spot markets versus 28 February 2026 in Xeneta’s dataset. Other trades can rise less, remain flat or fall. Always check a dated benchmark for the relevant port pair.

What is the difference between a freight rate and an emergency fuel surcharge?

The freight rate is the main transportation charge. An emergency fuel surcharge is an extra charge intended to recover abnormal fuel costs. War-risk, peak-season, operational-recovery and local charges may also apply, so shippers should request a complete list of inclusions and exclusions.

How can the Hormuz crisis affect a shipment from Thailand?

It can affect bunker fuel, insurance, vessel routing, port congestion and carrier capacity allocation—even if the cargo does not pass through Hormuz. The size of the impact depends on the trade lane, carrier, sailing date and cargo type.

Should I use FCL or LCL when rates are volatile?

There is no universal answer. FCL can provide more control for higher volumes, while LCL avoids paying for unused container space. Compare total landed cost, consolidation time, cut-off dates, handling and delay risk before choosing.

What should I check first before confirming a sea freight booking?

Start with rate validity and inclusions, then verify space and equipment. Next, check routing, transshipment, ETD/ETA, free time, demurrage and detention, destination costs and cargo-insurance conditions. Do not confirm a booking from the headline rate alone.

Ask Transpo Logistics to review your booking before confirmation

In a market that can change every week, the right sailing must balance cost, space, transit time and route risk. Transpo Logistics can help assess Rate + Space + Routing and plan a suitable Sea Freight or Integrated Supply Chain Solution for your shipment.

Phone: +66 2 105 8651
Email: sales@transpologistics.com
Website: www.transpologistics.com

Note: The figures in this article are market references and examples from carrier advisories, not quotations. Rates and conditions can change. Always reconfirm the latest details before booking.

Sources

1. Xeneta Weekly Ocean Container Shipping Market Update, 18 September 2026
2. Drewry World Container Index, assessment dated 17 September 2026
3. CMA CGM: Situation in the Middle East – Emergency Fuel Surcharge Update, 18 September 2026
4. Maersk: Middle East Operational Update 47, 16 September 2026
5. Freightos Global Freight Outlook, September 2026
6. UNCTAD: Hormuz shipping disruptions raise risks for energy, fertilizers and vulnerable economies