Gulf conflict means an early peak season, says Yang Ming chief

By Alison Koo 12/05/2026 The peak season for Asia-Europe shipments is expected early, with mainline operators reporting higher cargo volumes, resulting in higher freight rates. On Friday, the Shanghai Containerised Freight Index showed 4% week-on-week growth in the Shanghai-North Europe rate, to $2,584 per 40ft and a 2% rise in the Shanghai-Mediterranean rate, to $3,263 per 40ft. For the transpacific, the SCFI registered a 4% increase in the Shanghai-US West Coast rate, to $2,826 per 40ft and a 3% hike in the Shanghai-US East Coast rate, to $3,812 per 40ft. During the recent Taipei Shipowners’ Association’s meeting, Yang Ming chairman Chuck Tsai Feng-ming said the usual Q3 peak season – when Asian factories export consumer goods to the US and Europe for Christmas – had been brought forward. He explained that the US-Israel-Iran war had tied up 1.5% of shipping capacity in the Strait of Hormuz and the resulting hike in oil prices had made mainline operators raise freight rates this month to reflect higher costs and tight shipping supply and demand. Dr Tsai said: “We’re seeing bookings coming in for this month, and we see a recovery in cargo volumes. Therefore we believe that the container shipping market has entered the peak season ahead of schedule.” Linerlytica said Asia-North Europe cargo was being quoted at $2,800-$3,200 per 40ft for the final two weeks of the month, up from current levels of $2,400-$2,500, as they tested the market with a second round of rate hikes. The consultancy said: “Space availability is slightly lower in weeks 19 and 20 due mainly to blanked sailings by Ocean and Premier alliance partners.  Gemini carriers Maersk and Hapag-Lloyd are also signalling a more flexible blanked sailing strategy as they move away from the rigid arrangement in the past, where blanked sailings were limited to the Chinese New Year and Golden Week holiday windows.” Linerlytica said a similar situation was being seen on the transpacific, where spot Asia-US West Coast rates were quoted at $2,800 per 40ft, substantially higher than the full-year contract rates of less than $2,000. The consultancy added: “The low number of new ship deliveries in the past two months has kept the market severely short of ships as charter rates continue to edge upwards, and vessel space remains tight, with continued freight rate increases expected through the second half of May.” Linerlytica’s figures show that between April and June, only 16 newbuildings, for deployment to the Far East-North Europe, Far East-Mediterranean and transpacific lanes, will be delivered.

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• May 13th, 2026
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