Global container shipping rates increased slightly this week as export activities from Asia start to pick up after the Lunar New Year holiday. However, escalating tensions in the Middle East may introduce new uncertainties into the market.
The Drewry World Container Index (WCI), which tracks global container spot rates, reported a 3% increase, bringing the composite index to $1,958 per 40-foot container for the week ending March 5. This marks the first rise after seven weeks of decline.
As factories in Asia gradually resume full production following the holiday break, shipping companies are reducing canceled sailings and restoring vessel capacity.
According to Drewry’s weekly report, spot rates from Shanghai to Los Angeles rose by 10% to $2,402 per forty-foot container, while rates from Shanghai to New York increased by 7% to $2,977.
In contrast, rates on Asia–Europe routes are still facing challenges. Freight costs from Shanghai to Rotterdam fell by 2% to $2,052, and rates from Shanghai to Genoa saw a minor rise of just 1% to $2,844. This indicates ongoing pressure in this corridor, even with expectations for a rebound in export volumes as manufacturing activity resumes in Asia.
Drewry noted, “Volumes usually recover in March as factories reopen across Asia,” adding that carriers are preparing to increase capacity for Asia–Europe and Mediterranean routes. Recently, only four canceled sailings have been reported for the next two weeks, suggesting a gradual return to normal service.
Drewry’s World Container Index increased 3% to $1,958 per 40ft container this week. View our detailed assessment at: https://t.co/TD7Z9TzXVx #WorldContainerIndex #containers #Shipping #SupplyChain #Logistics #OceanFreightRates #Transportationpic.twitter.com/ITfEEmGSEw
— Drewry (@DrewryShipping) March 5, 2026
A similar trend is occurring across the Pacific. Drewry’s Container Capacity Insight indicates that only four blank sailings are planned for the upcoming week on transpacific East and West Coast routes, a significant reduction compared to earlier in the year as production ramps up after the holiday lull.
However, this market recovery coincides with rising geopolitical tensions that could cause new fluctuations in shipping costs globally.
Commercial shipping through the Strait of Hormuz has nearly halted following coordinated strikes by the U.S. and Israel on Iran.
The energy markets have responded quickly, as the Strait handles about 20% of the world's oil supply. This disruption has led to a surge in crude prices due to concerns over supply. Drewry warned that if the situation continues, the indirect effects could significantly impact container shipping costs.
The firm stated, “Increased bunker fuel prices, war-risk premiums, and operational disruptions could drive overall freight costs up and put pressure on container shipping rates.”
While container shipping has limited direct exposure to the Gulf region compared to tanker and LNG trades, the indirect consequences could still be substantial. Longer routes around Africa, higher insurance fees, and rising fuel costs will all influence carrier pricing and operational strategies.
Recent analysis from Drewry indicates that at the start of the crisis, only about 158 container ships—around 691,000 TEU or 2.1% of global capacity—were operating in the Gulf region, which limits the sector’s immediate operational exposure.
Nonetheless, prolonged instability could hinder some carriers' plans to resume Suez Canal transits after months of disruption in the Red Sea, possibly tightening vessel supply and supporting freight rates.
Currently, the container market finds itself balancing between improving seasonal demand and escalating geopolitical risks. If Asian export volumes continue to rise while energy prices do too, the early March increase in freight rates may signal a new phase of volatility driven by disruptions in the global shipping market.