- US-bound rates remain firm on resilient demand and port congestion
- Europe trades weaken on Suez capacity return, Golden Week holidays
The Shanghai Containerized Freight Index (SCFI) declined 0.7% w-o-w to 3,662.3/twenty-foot equivalent unit (TEU) on 30 September 2026, from 3,686.62/TEU a week earlier. The decline reflected diverging trends across major trade routes, with resilient US-bound demand and congestion supporting transpacific rates, while the restoration of Suez/Red Sea capacity continued to weigh on Europe-bound services.
Transpacific rates remained relatively firm, with Asia-West Coast America increasing 4.1% w-o-w, the only route to record a rise, supported by resilient US import demand, congestion at Asian ports and continued carrier capacity management. Asia-East Coast America declined marginally by 1.2%, although underlying demand remained comparatively firm.
The Asia-Europe market weakened further, with rates declining 2.9% w-o-w as increasing Suez Canal activity restored effective vessel capacity and improved network efficiency. The approaching China Golden Week is also expected to reduce cargo availability and add further pressure to rates.
Asia-Mediterranean rates declined 1% w-o-w as the return of vessels through the Red Sea and Suez increased available capacity. However, continued security risks across the Red Sea and wider Middle East could limit the pace of full network normalisation.
Outlook
The SCFI is likely to remain mixed in the near term, with transpacific rates supported by resilient US demand and congestion, while Europe-bound trades face greater downside pressure from recovering Suez capacity and softer post-Golden Week cargo volumes. Red Sea security developments remain the key swing factor for vessel routing and freight rates.
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