Weekly highlights

Ocean rates – Freightos Baltic Index

- Asia-US West Coast prices (FBX01 Weekly) decreased 1%.

- Asia-US East Coast prices (FBX03 Weekly) decreased 3%.

- Asia-N. Europe prices (FBX11 Weekly) decreased 3%.

- Asia-Mediterranean prices (FBX13 Weekly) decreased 1%.

Air rates – Freightos Air Index

- China – N. America weekly prices increased 5%.

- China – N. Europe weekly prices increased 6%.

- N. Europe – N. America weekly prices stayed level.

Analysis

Tensions between Iran and the US continue to climb around the Strait of Hormuz, with Iran now announcing plans to impose a wider exclusion zone on areas near the strait. Fuel rates have trended up since the ceasefire collapse in July, but recent escalations as well as an increase in Chinese crude imports have pushed bunker fuel prices back up to levels last seen in June. Jet fuel prices are back to May levels with both fuels about 60% higher than before the start of the war.

Climbing fuel costs are likely setting an elevated floor for container rates, but ocean prices are still largely being driven by demand trends and disruptions to capacity availability.

Transpacific ocean rates cooled slightly last week, suggesting there won’t be additional rate increases in what is likely the last few weeks of peak season. But elevated demand that started in late May has kept prices at peak levels since early July. Current rates – of about $7,600/FEU to the West Coast and $9,500/FEU to the East Coast – are about back to levels last seen during peak season in 2024 when seasonal demand, Red Sea disruptions to capacity and some frontloading ahead of a possible East Coast labor strike combined to push rates up sharply.

Severe typhoon-driven congestion at Far East container hubs are likely also contributing to current rate levels. Carriers have increased blanked sailings for this week – possibly as moves to recover schedules disrupted by the storms – which could also help keep prices elevated even if demand has started to ease.

The Panama Canal Authority has postponed an additional half-foot draft reduction for Neopanamax transits until further notice, though it is still bracing for drought conditions from the expected El Nino this year. The PCA reduced daily transits by four to 32 this month, though Neopanamax daily slots – used by long haul container vessels – have only been reduced by one.

Asia-Europe container rates ticked down slightly last week to $4,500/FEU to N. Europe and $4,700/FEU to the Mediterranean, though Mediterranean prices have cooled further so far this week to about even with N. Europe. Going back to 2017, Asia – Mediterranean rates have on average been 17% higher than Asia – N. Europe prices, though at times they have been lower.

The current sharper decline from peak season highs for Mediterranean rates – a $2,600/FEU and 37% drop compared to $1,300/FEU and 23% for N. Europe lanes – may reflect both the recent increase in Red Sea transits for some Mediterranean services and that congestion at N. Europe hubs is keeping upward pressure on rates for those lanes even as peak season demand has cooled. Even with these declines, rates for both lanes remain $1,000 – $1,700/FEU above pre-peak season levels, likely due to Far East congestion as well. Recent port worker strikes in Germany and the Netherlands are now also contributing to some of the backlog.

In air cargo, operations at Miami International Airport are back to normal after an Amazon freighter crash on Sunday and authorities have reopened most airports across Indonesia following a volcanic eruption that had closed airports since late Friday. Air cargo rates from the Far East increased about 5% last week to $6.30/kg to the US and $4.88/kg to Europe, possibly reflecting disruptions from the most recent typhoon to hit the region last week.

Freightos Terminal™: Real-time pricing dashboards to benchmark rates and track market trends.

Procure™: Streamlined procurement and cost savings with digital rate management and automated workflows.

Rate, Book, & Manage™: Real-time rate comparison, instant booking, and easy tracking at every shipment stage.

Weekly highlights

Ocean rates – Freightos Baltic Index

- Asia-US West Coast prices (FBX01 Weekly) increased 3%.

- Asia-US East Coast prices (FBX03 Weekly) increased 2%.

- Asia-N. Europe prices (FBX11 Weekly) decreased 3%.

- Asia-Mediterranean prices (FBX13 Weekly) decreased 12%.

Air rates – Freightos Air Index

- China – N. America weekly prices increased 3%.

- China – N. Europe weekly prices increased 8%.

- N. Europe – N. America weekly prices increased 1%.

Analysis

The Houthis – previously in control of the elevated area miles from the Red Sea – recently seized a strategic port and island directly on the Bab el-Mandeb Strait chokepoint. This advance, together with last week’s attack on a key Saudi pipeline, marks yet another escalation in Iran-backed steps to threaten energy markets.

Some experts watching oil and bunker fuel prices climb back to May levels, see these recent developments as further evidence that strategies which reduced energy prices from initial war-time highs – mostly by drawing from reserves – are wearing thin and could now lead to an actual fuel crisis.

The Houthis had no difficulty attacking and deterring Red Sea traffic before they took control of the coastal region, but their recent gains mark a solidification of control and an escalation of the maritime threat. Nonetheless – and despite some shipper objections – container carriers continue to increase Suez Canal and southern Red Sea transits.

According to Sea Intelligence estimates, more than a quarter of Asia-Europe capacity will sail via the Red Sea in September, with 35% of Asia – Mediterranean headhaul capacity and 50% to 60% of backhauls passing through the Suez. Asia – N. Europe capacity is returning at a slower pace with 6% of headhaul and 30% of backhaul being restored so far.

War-driven higher fuel costs, and congestion at both Far East origin ports – which may keep dismal on-time rates and backlogs a factor post Golden Week and well into October – and N. Europe hubs may be changing carrier calculus for a Red Sea return. The added speed and effective capacity the new routes provide may already be responsible – together with easing, post-peak demand – for container rate decreases on these lanes.

Asia – N. Europe prices fell 3% to about $4,300/FEU last week while Asia – Mediterranean rates dropped 12% to $4,200/FEU. Daily rates on both lanes have eased to about $3,800/FEU so far this week. The sharper drop for Asia – Mediterranean prices – down $3,000/FEU from a July peak compared to $2,000/FEU for N. Europe rates – may reflect the higher rate of Red Sea capacity restoration on this lane. That, even with demand reductions and Red Sea transits, prices on these lanes remain respectively more than 20% and 50% higher than before peak season began in mid-May points to the role congestion continues to play in container rate dynamics.

Transpacific container rates meanwhile ticked up last week, remaining at peak levels as demand strength – together with Far East congestion – is keeping pressure on spot prices. The latest National Retail Federation US ocean import volume report projects October arrivals to fall 9% compared to September, with a further drop in November, suggesting that demand is already easing and should ease further soon. Port congestion – as well as blanked sailings over the holiday stretch – could nonetheless mean rates will stay quite elevated even as demand cools. While most carriers do not seem to be planning October increases, CMA CGM announced sharp PSSs especially for S. Asia – US lanes.

In air cargo, UK operations continue to recover from an air traffic control system outage that grounded thousands of flights a week ago. Overall the Freightos Air Index global benchmark is down 5% from recent, possibly typhoon-related levels, and has decreased 15% from levels hit early on in the Iran war. But rates remain 25% higher than a year ago as jet fuel costs stay high.

Far East – N. America prices climbed 3% to $6.52/kg last week and rates to Europe increased 8% to $5.25/kg. Despite global volume growth so far this year, some observers do not expect a particularly strong Q4 peak season. This stance is due partly to non-seasonal, AI-related hardware being a big driver of volumes, and limited to only some lanes – particularly, Taiwan, South Korea and S. East Asia to US corridors. On these lanes, however, some forwarders expect capacity to be tight over peak season, and even push some volumes to ocean or sea-air options.

Freightos Terminal™: Real-time pricing dashboards to benchmark rates and track market trends.

Procure™: Streamlined procurement and cost savings with digital rate management and automated workflows.

Rate, Book, & Manage™: Real-time rate comparison, instant booking, and easy tracking at every shipment stage.

Stop managing freight costs reactively. Learn how leading procurement teams stay ahead.

Fuel surcharges swing 15–25% within a single quarter. Annual tender cycles can’t keep pace. And yet most procurement teams still rely on manual processes, spreadsheets, and outdated rate data to manage some of their biggest cost lines.

In our recent webinar we showed exactly how agile procurement works in practice — from standardizing and automating your tendering process to managing fuel and BAF updates between tender cycles without the overhead of a full renegotiation.

Watch the full recording and key takeaways below:

- Automate Your Procurement Workflows: See how Freightos Procure automates up to 90% of manual freight procurement tasks — from RfQ generation and carrier management to sanity checks and best-rate calculations — so your team focuses on decisions, not admin.

- Manage Fuel and BAF Updates Between Tenders: Learn how to run structured BAF review cycles between full tenders, using either your own methodology or carrier-submitted updates — with built-in approval workflows and full audit trails.

- Benchmark Rates Against the Real Market: See how Freightos Terminal gives you daily-updated spot and contract benchmarks sourced from $50B+ in real commercial freight spend — so you always know where your rates stand before you negotiate.

We’ve created a short guide to help get you started. Download it for free below:

Your Expert Hosts

Judah Levine

Head of Research, Freightos Group

Florian Gottlieb

Enterprise Account Manager, Freightos

The global supply chain has faced significant disruptions in recent years — from a worldwide pandemic and geopolitical tensions to climate-related events and market volatility. Traditional freight procurement, built on rigid annual contracts and slow negotiation cycles, simply can’t keep pace.

Agile logistics procurement changes that. By leveraging short-term tenders, real-time data, and flexible supplier relationships, procurement teams can respond quickly, control costs, and build more resilient supply chains — no matter what the market throws at them.

Download our playbook to discover how leading enterprise procurement teams are making the shift.

What you’ll learn in this step-by-step playbook:

✓ How to standardize, centralize, and automate your procurement workflows – including fuel and BAF updates

✓ How to benchmark your contracted rates against real commercial freight spend and run regular mini-bids to stay competitive

✓ How to track procurement KPIs and continuously optimize freight costs between tender cycles – without a full renegotiation

Frequently Asked Questions

What is Agile Logistics Procurement?

Agile logistics procurement is a dynamic approach to freight sourcing that replaces rigid annual contracts with frequent mini-bids, real-time market data, and flexible supplier relationships. It enables enterprise procurement teams to respond quickly to market shifts, control freight costs more effectively, and build more resilient supply chains.

How does Agile Procurement reduce freight costs?

By running regular mini-bids and benchmarking contracted rates against live market data, procurement teams can identify overpayment, optimize carrier selection, and act on cost-saving opportunities as they arise — rather than waiting for the next annual tender cycle. Tools like Freightos Terminal allow teams to compare their rates against $50B+ in real commercial freight spend to see exactly where savings are available.

What is BAF and how can procurement teams manage it more effectively?

BAF (Bunker Adjustment Factor) is a surcharge applied to ocean freight rates to account for fluctuations in bunker fuel costs. It can swing 15–25% within a single quarter, making it one of the most volatile cost lines in freight procurement. Agile procurement teams manage BAF more effectively by running structured update cycles between full tenders — either applying their own methodology or requesting updated submissions directly from carriers — rather than absorbing surcharge changes passively.

What tools do enterprise procurement teams use for freight rate benchmarking?

Leading enterprise procurement teams use market intelligence platforms like Freightos Terminal to benchmark contracted rates against daily-updated spot and contract data across ocean and air freight. Unlike self-reported data used by some competitors, Freightos Terminal is sourced from real commercial transactions representing over $50 billion in annual freight spend — giving procurement teams a reliable, independent view of where their rates stand before they negotiate.

Weekly highlights

Ocean rates – Freightos Baltic Index

- Asia-US West Coast prices (FBX01 Weekly) increased 4%.

- Asia-US East Coast prices (FBX03 Weekly) decreased 1%.

- Asia-N. Europe prices (FBX11 Weekly) decreased 15%.

- Asia-Mediterranean prices (FBX13 Weekly) decreased 7%.

Air rates – Freightos Air Index

- China – N. America weekly prices decreased 1%.

- China – N. Europe weekly prices decreased 18%.

- N. Europe – N. America weekly prices increased 3%.

Analysis

Trade talks continue between the US and China as representatives work to prepare the ground for the Xi -Trump meeting this week. The negotiations are reportedly aimed at maintaining stability in the fragile trade relationship, as opposed to pushing major policy shifts in either direction.

Tariffs introduced by the US since the Supreme Court invalidated IEEPA restored duties on China to within 7.5 percentage points of the level agreed upon between the sides last November, with the agreement set to expire this November.

The USTR has reportedly concluded an additional Section 301 investigation, focused on issues of excess manufacturing capacity, and recommending an additional 7.5% tariff on Chinese exports. The White House seemed ready to announce this increase before the September meeting, but the administration is now expected to hold off on the announcement – either to avoid a possible escalation, or to use the findings as leverage in the current negotiations.

The administration is reportedly prepared to offer a three to six month extension of the current trade truce, which includes not only tariff levels – changes to which could impact international logistics – but also the pause of $1M US port call fees on China-linked vessels. The fees went into effect in mid-October of last year. China quickly imposed similar fees on US vessels until the sides announced a one-year pause on November 10th.

Despite the early start to east-west ocean peak season back in May which pushed container rates up sharply into early July, transpacific rates remain at about peak levels while Asia – Europe prices continue to cool.

Resilient transpacific demand – possibly helped by the lack of a tariff hike in late July, and now including a last push to get containers moved before the Golden Week holiday – alongside persistent, weather-driven, Far East port congestion and blanked sailings, are keeping container rates at year highs.

Far East – West Coast prices increased 4% to more than $8,100/FEU last week, with East Coast rates about level at $9,600/FEU. Some of the blanked sailings are likely due to delays and schedule disruptions caused by the congestion, while carriers are also using the capacity reductions to adjust to the expected lower volumes over the holiday-period, and the likely easing demand later in October as peak season comes to an end. But analysis that nonetheless shows a lower rate of cancellations compared to recent years may reflect the relative demand strength also at play.

Some indices see these transpacific rate levels as approaching pandemic-era highs. But Freightos Baltic Index data show that at the peak of the unprecedented COVID-driven demand surge and the resulting extreme port congestion in September of 2021, transpacific West Coast rates reached an all-time high of more than $20,000/FEU. At the time, carriers were not moving spot shipments booked at base rates, meaning that the actual market price to move a container needed to include premium surcharges – normally optional, but during this span required – which pushed the FBX benchmark to those historic highs.

So, while current market conditions are putting significant pressure on rates – and pushing them back to levels last seen during peak season 2024 when Red Sea capacity constraints were a major factor – FBX data suggest we aren’t nearing pandemic levels just yet.

Asia – Europe container rates continued their gradual decline from peak season highs as volumes cool. Asia – N. Europe prices fell 15% last week to $3,700/FEU, down from a July peak of almost $6K/FEU but still about $1,000/FEU higher than before peak season began in late May. Asia – Mediterranean rates however – which decreased 7% to $3,900/FEU last week, down from more than $7K/FEU in July – have eased all the way back to May levels.

The sharper decline for prices to the Mediterranean may be due both to the sharper increase in effective capacity via more Red Sea transits for vessels servicing this lane compared to those to or from N. Europe, and to congestion at N. Europe hubs – including from low water levels in the Rhine River – constraining capacity on Asia – N. Europe trades. The Verdi labor union in Germany is voting on a possible indefinite port strike as early as October, which would worsen congestion challenges in the region.

In air cargo, China – N. Europe prices fell 18% back to mid-August levels of $4.30/kg last week, as the market continues to see lower volumes as e-commerce demand slows. China – US rates were stable at about $6.50/kg though daily prices so far this week are trending upwards.

Freightos Terminal™: Real-time pricing dashboards to benchmark rates and track market trends.

Procure™: Streamlined procurement and cost savings with digital rate management and automated workflows.

Rate, Book, & Manage™: Real-time rate comparison, instant booking, and easy tracking at every shipment stage.

Weekly highlights

Ocean rates – Freightos Baltic Index

- Asia-US West Coast prices (FBX01 Weekly) increased 4%.

- Asia-US East Coast prices (FBX03 Weekly) stayed level.

- Asia-N. Europe prices (FBX11 Weekly) decreased 9%.

- Asia-Mediterranean prices (FBX13 Weekly) decreased 7%.

Air rates – Freightos Air Index

- China – N. America weekly prices increased 5%.

- China – N. Europe weekly prices decreased 4%.

- N. Europe – N. America weekly prices increased 1%.

Analysis

Last week’s Trump-Xi meeting in Washington yielded a two month extension of last year’s US-China trade truce which was set to expire on November 10th, mutual tariff reductions on some imports, and plans for two more meetings between the leaders before the end of the year. This deescalation likely also postpones US port call fees on China-linked vessels, though the USTR has not issued an officialral just yet.

The US Treasury Secretary said the US only agreed to two months because China still needs to fulfill some of its earlier commitments to purchase US agricultural goods. This stance may imply expectations for another extension once progress is made on those purchases.

The sides will reduce tariffs on $30B worth of counterpart imports to most-favored-nation levels, pending the necessary legal procedures to put these changes into effect. Though the reduction is modest in the context of the more than $400B of total China-US trade, this news will be welcomed by US importers and consumers of the nearly 80 affected product entries, with toys as the largest category by value. China’s list of more than 1,600 entries comprises mostly agricultural products and commodities.

Transpacific container rates ticked up to the West Coast last week to $8,400/FEU, a new high for the year, with East Coast prices level at about $9,600/FEU, $200/FEU lower than its peak in late August, as resilient demand has kept pressure on rates to close the month.

Demand is likely to cool as we get past Golden Week and peak season finally ends, but carriers have increased blanked sailings over the holiday period and into late October. Far East congestion remains a major drain on available capacity, and likely one factor to some carriers reducing allocations for some contracted forwarders.

Sea Intelligence estimates that port congestion is tying up more than 8% of global capacity, and could take up to ten months to completely unwind. We could therefore expect congestion – together with higher fuel costs from the Hormuz closure – to contribute to an elevated rate floor even during low demand stretches, and a higher baseline from which prices will climb when demand increases again ahead of Lunar New Year.

Better than expected rainfall and water levels in Panama has led to some good news for transpacific shippers to the East Coast. The Panama Canal Authority will restore daily Neopanamax transits to the normal ten, and increase maximum draft levels to 49 feet in mid-October, after removing a daily transit and reducing the draft by a foot in late August. Improved conditions now, however, do not mean that restrictions won’t be introduced in the coming months if the expected El Nino negatively impacts the rainy season that normally lasts into January.

Asia – Europe container rates continued to ease last week as demand likely continues to cool and carriers increase effective capacity through gradual increases in Red Sea transits. Asia – N. Europe prices fell 9% to about $3,400/FEU and rates to the Mediterranean decreased 7% to $3,600/FEU. Despite these trends some carriers are announcing rate increases for late October.

Even with the $3K – $4k/FEU drop in spot prices since rates peaked in July, prices on these lanes remain about 50% higher than a year ago as Far East congestion, backlogs at some N. Europe hubs, and fuel surcharges keep the rate floor elevated on these lanes as well.

The Freightos Air Index global benchmark ticked up 5% last week and remains more than 30% higher than a year ago as jet fuel prices remain elevated. Far East – N. America rates increased 5% to about $6.80/kg last week and Far East – Europe prices dipped 4% to $4.14/kg.

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Freightos Terminal™: Real-time pricing dashboards to benchmark rates and track market trends.

Procure™: Streamlined procurement and cost savings with digital rate management and automated workflows.

Rate, Book, & Manage™: Real-time rate comparison, instant booking, and easy tracking at every shipment stage.

This month’s Global Freight Outlook webinar took a data-driven look at the latest in the international ocean and air freight markets. We focused on container trends – the extended transpac peak season, the elevated Asia – Europe rate floor, and Red Sea returns, Panama Canal restrictions, trade war developments, post the Trump-Xi summit, and air cargo peak season projections.

Watch the full recording and read key takeaways below:

Key Takeaways:

- Hormuz attacks escalating, but container impact unchanged: Iran has intensified attacks partly in response to crude volumes recovering via alternative channels, but Gulf-bound containers continue rerouting. Bunker fuel prices have kept climbing despite reports of recovering Middle East crude exports.

- Red Sea return advancing but Houthi–Saudi escalation adds new risk: All the container alliances plus MSC will send some vessels via the Red Sea by the end of the month, but the sharp Houthi–Saudi escalation in recent days, including missile strikes on Riyadh, raises the risk of renewed container vessel attacks that could reverse this progress.

- Sticky congestion may be setting a higher rate floor: Typhoon-driven backlogs in the Far East persist, with congestion at key N. Europe hubs lingering too. The backups could take months to unwind completely and, alongside elevated fuel costs, could keep some upward pressure on rates even before the pre-Lunar New Year rush begins.

- East-west container lanes post-peak, as Asia – Europe enters contract season: Transpacific rates are showing signs of easing with peak demand finally easing post-Golden Week. Asia – Europe have fallen steadily since mid-July as peak demand cooled, but carriers may seek to push rates up as tendering season gets underway.

- Saudi air cargo disruption localized; e-commerce slowing, AI hardware growing: as Houthi strikes on Riyadh airport are disrupting Saudi air cargo but broader market impact is so far limited. There are more signs of Chinese air e-commerce exports falling while AI-related data center hardware has emerged as a significant Asia – N. America demand driver. Overall, rates remain elevated on strong demand and high fuel costs, setting the baseline from which rates will likely climb during the Q4 peak season stretch.

Your Expert Host

Judah Levine

Head of Research, Freightos Group

Judah is an experienced market research manager, using data-driven analytics to deliver market-based insights. Judah produces the Freightos Group’s FBX Weekly Freight Update and other research on what’s happening in the industry from shipper behaviors to the latest in logistics technology and digitization.

Weekly highlights

Ocean rates – Freightos Baltic Index

- Asia-US West Coast prices (FBX01 Weekly) decreased 1%.

- Asia-US East Coast prices (FBX03 Weekly) stayed level.

- Asia-N. Europe prices (FBX11 Weekly) decreased 3%.

- Asia-Mediterranean prices (FBX13 Weekly) decreased 2%.

Air rates – Freightos Air Index

- China – N. America weekly prices decreased 18%.

- China – N. Europe weekly prices decreased 7%.

- N. Europe – N. America weekly prices increased 1%.

Analysis

Some recent estimations have Middle East crude oil exports – via the Strait of Hormuz and alternatives – approaching pre-war levels, with crude prices easing moderately. For now though, bunker prices remain about level with the last few weeks, as increased crude volumes, if sustained, may take time to translate into lower prices for refined products.

Increased Saudi crude flows via the southern Red Sea account for part of this volume recovery, with Saudi-backed forces attempting to recapture areas on the Yemeni coast of the Bab el Mandeb Strait recently seized by the Houthis. Even with elevated tension in the region container carriers continue to gradually increase Red Sea traffic, with the Premier Alliance – the last holdout among the three alliances and MSC – announcing some services will resume Red Sea transits this month.

The increase in effective capacity from more vessels taking the shorter route is likely one contributor to container rates sliding since mid-July on Asia – Europe lanes. Prices dipped 2-3% last week to $3,260/FEU to N. Europe and $3,555/FEU to the Mediterranean, with rates level so far this week over the Golden Week holiday as carriers have blanked sailings during this low demand stretch.

The sharper increase in Red Sea sailings for Asia – Mediterranean services, as well as continued challenges with congestion at some N. Europe hubs for Asia – N. Europe volumes, may explain why rates to the Mediterranean – even as Far East congestion, though improving, continues to tie up capacity – have slid back to pre-peak season levels. Asia – N. Europe prices meanwhile, remain about $400/FEU higher than back in mid-May.

Transpacific container rates decreased 3% to the West Coast last week to $8,322/FEU while East Coast prices were level at $9,600/FEU. Increased blanked sailing over the Golden Week period may help keep prices stable in the near term. Increases in blanked sailings as well as backlogs from nearly three months of weather-related disruptions at major ports in China may keep the transpacific rate floor quite elevated even as we enter what is normally a couple months of low demand post-peak season and pre-Lunar New Year rush.

In air cargo, more recent analyses confirm data center components are a significant driver of global demand growth even as e-commerce volumes – though still significant – contract in some major markets. The Freightos Air Index shows Far East/China rates cooling more than 15% to N. America last week to $5.60/kg and easing 7% to Europe to $3.83/kg as demand eases over Golden Week.

Freightos Terminal™: Real-time pricing dashboards to benchmark rates and track market trends.

Procure™: Streamlined procurement and cost savings with digital rate management and automated workflows.

Rate, Book, & Manage™: Real-time rate comparison, instant booking, and easy tracking at every shipment stage.

Weekly highlights

Ocean rates – Freightos Baltic Index

- Asia-US West Coast prices (FBX01 Weekly) decreased 2%.

- Asia-US East Coast prices (FBX03 Weekly) stayed level.

- Asia-N. Europe prices (FBX11 Weekly) stayed level.

- Asia-Mediterranean prices (FBX13 Weekly) increased 7%.

Air rates – Freightos Air Index

- China – N. America weekly prices increased 3%.

- China – N. Europe weekly prices decreased 7%.

- N. Europe – N. America weekly prices increased 2%.

Analysis

Multiple Houthi missile attacks on Saudi Arabia’s Riyadh airport since late last week mark another serious escalation of the Saudi – Houthi conflict. Saudi Arabia has promised retaliation for the deadly strikes which have shut down airport operations in Riyadh. Interceptions at the airport in Dammam and attacks on other airports have led to disruptions and cancellations at other hubs as well.

The Houthis sought to close the Bab el-Mandeb Strait to Saudi-linked traffic in July, attacking several vessels into August after nearly nine months of quiet. The current escalation may increase the likelihood of renewed Red Sea strikes.

Container carriers have nonetheless gradually increased Asia – Europe Red Sea transits since June, which is one factor – with a post-peak season slide in demand the bigger factor – to uninterrupted spot rate decreases on these lanes since July.

Shippers and carriers on these trades are now entering tendering season for 2027’s annual ocean contracts. This time last year carriers reduced capacity and pushed through a series of Q4 GRIs to raise the benchmark around which long term negotiations were based. Some carriers have already announced October rate increases and Asia – Mediterranean prices increased 7% to $3,800/FEU last week. But even with the rate decreases since July, prices are still quite elevated at more than $3,000/FEU on both lanes and are about 70% higher than they were last year, working in carriers’ favor even without additional increases.

But current rate levels are partially being supported by lingering congestion in N. Europe – though a strike at German ports that could have made things worse was recently averted – and in the Far East. Fleet growth through newbuild deliveries next year and the possibility that Red Sea transits will continue to increase effective capacity in 2027 also have some shippers expecting rate levels may ease next year, and hesitant to lock in annual rates at current levels.

On the transpacific, sustained peak season demand, together with Far East congestion, has kept container rates at about peak levels since July, though Far East – US West Coast rates dipped 2% to $8,150/FEU and could signal the start of a downward trend with Golden Week behind us.

The latest National Retail Federation US ocean import volume report projects November arrivals to drop 11% month on month, suggesting that peak season is finally coming to an end and that we may see rates ease until demand pressure from the pre-Lunar New Year rush kicks in late this year or starting in January. Despite the extended peak season, NRF projections would put year totals – which would approach the record set in 2021 – just 1.4% higher than 2025 and up 1.2% from 2024.

The attacks in Saudi Arabia are disrupting air cargo flows in and out of the country for affected airports, with some foreign carriers suspending services. But as Saudi Arabia – unlike some of the other Gulf states – is not a major transhipment hub for the international air cargo market, the closures may not be felt more broadly.

There are more indications of air cargo freighter capacity shifting away from Asia – Europe trades as e-commerce volumes slump, and toward lanes with stronger growth like AI-fueled transpacific. Elevated fuel costs and overall strong global volume growth have the Freightos Air Index global benchmark rate up 33% year on year and 29% higher than levels before the Strait of Hormuz closure.

South East Asia – N. America rates are 40% higher than last year and pre-war, reflecting the data center volume growth as a component of the global rate. China – Europe prices meanwhile dipped to $3.58/kg last week, down 9% compared to a year ago and up just 4% compared to before the war, suggesting that even with capacity shifts, the drop in e-commerce volumes may be dragging down rates for this lane.

Freightos Terminal™: Real-time pricing dashboards to benchmark rates and track market trends.

Procure™: Streamlined procurement and cost savings with digital rate management and automated workflows.

Rate, Book, & Manage™: Real-time rate comparison, instant booking, and easy tracking at every shipment stage.

NEW YORK, Oct. 17, 2026 /PRNewswire/ -- Why: Rosen Law Firm, a global investor rights law firm, continues to investigate potential securities claims on behalf of shareholders of Barclays PLC (NYSE: BCS) resulting from allegations that Barclays may have issued materially misleading business information to the investing public.

So what: If you purchased Barclays securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen Law Firm is preparing a class action seeking recovery of investor losses.

What to do next: To join the prospective class action, go to https://rosenlegal.com/submit-form/?case_id=23523 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action.

What is this about: On February 27, 2026, Reuters published an article entitled "Wall Street hit by UK mortgage lender collapse, raising fears of more credit 'cockroaches.'" The article stated that lenders were "rocked by the implosion of little-known UK mortgage provider Market Financial Solutions Ltd ["MFS"], fuelling concerns about wider losses among banks and reviving warnings of more "cockroaches" in the booming private credit industry." It further stated that another publication "reported Barclays has a 600 million pound ($809.70 million) exposure to MFS."

On this news, Barclays American Depositary Shares ("ADS") fell 3.99% on February 27, 2026, and 2.3% on March 2, 2026.

Why Rosen Law: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered billions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers.

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Contact Information:

     Laurence Rosen, Esq.

Phillip Kim, Esq.

The Rosen Law Firm, P.A.

275 Madison Avenue, 40th Floor

New York, NY 10016

Tel: (212) 686-1060

Toll Free: (866) 767-3653

Fax: (212) 202-3827

[email protected]

www.rosenlegal.com

SOURCE THE ROSEN LAW FIRM, P. A.

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