- Index gains 3.8% w-o-w on tight vessel supply
- Sentiment remains firm, upside capped by easing geopolitical risks
The Shanghai Containerized Freight Index (SCFI) surged 3.8% to $3,239.64/twenty-foot equivalent unit (TEU) on 26 June 2026 as against $3,121.69/TEU on 18 June extending gains on tariff expectations, limited vessel capacity, and the impact of the US-Iran conflict.
Freight rates strengthened across the Asia-Europe, Transpacific, and Asia-Mediterranean corridors, supported by robust cargo demand, front-loaded shipments ahead of potential US tariff changes and July bunker fuel adjustments, firm carrier pricing, and tight vessel capacity.
Part of the recent strength stems from expectations of new tariff measures. After the US Supreme Court struck down the White House’s tariffs imposed under the International Emergency Economic Powers Act (IEEPA) earlier this year, the administration introduced a 15% blanket import tariff under Section 122. With these tariffs set to expire at the end of July, markets are anticipating that President Donald Trump will announce a new round of tariff measures to replace them, reports suggest.
Outlook
The Containerized Freight Index is expected to remain firm in the near term, supported by anticipated U.S. tariff measures, disciplined carrier capacity management, and seasonal pre-peak shipping demand.
However, easing geopolitical tensions, softer cargo bookings after the front-loading phase, and any increase in vessel capacity could limit further gains and lead to a gradual correction in freight rates.
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