ports

Gulf tensions accelerate peak season as rates surge across major routes

Geopolitical disruptions in the Middle East have accelerated peak season for container shipping, according to Yang Ming's chairman. The US-Israel-Iran conflict has removed 1.5% of global shipping capacity from the Strait of Hormuz, triggering rate increases across major lanes. Shanghai-North Europe rates climbed 4% week-on-week to $2,584 per 40ft, while Shanghai-Mediterranean routes rose 2% to $3,263 per 40ft. Transpacific services similarly strengthened, with Shanghai-US West Coast rates gaining 4% to $2,826 per 40ft and Shanghai-US East Coast routes climbing 3% to $3,812 per 40ft. Higher oil prices and constrained capacity pushed mainline operators to raise freight rates. The traditionally Q3 peak season—when Asian factories export consumer goods for Christmas—has shifted earlier as booking volumes recover substantially.