Overbooking and container drop-offs! Freight rates on the Europe-bound route surge amid robust demand.

A European freight forwarder reported receiving numerous client inquiries recently regarding slot allocation, noting that contracted rates are far below spot rates—and shipping lines typically prioritize higher-paying cargo during peak periods. The forwarder emphasized that this unusual situation is difficult to understand. Søren Toft, CEO of Maersk, revealed during the company’s recent Q1 earnings call with analysts that European importers have now entered a restocking phase. During this period, Maersk’s Europe-bound cargo volume has grown by 9%. Toft explained that this growth stems from last year’s relatively weak macroeconomic environment in Europe, which led importers to reduce inventory levels. With consumption continuing to rise in the new year, European importers have now begun restocking. According to Drewry’s World Container Index (WCI), the Shanghai–Rotterdam spot rate rose 2% week-on-week to USD 3,103 per FEU. Meanwhile, the Shanghai–Genoa spot rate climbed 3% to USD 3,717.6 per FEU. In practice, many shippers may already have paid higher freight charges to avoid shipment delays. A UK-based freight forwarder stated that the current sharp spike in spot rates may only be the beginning—demand has exceeded expectations, while some capacity has been absorbed due to Red Sea rerouting. The forwarder expects cargo volumes on the Asia–Europe route to remain high through Q2 as the peak season approaches, with market cooling likely only after new vessel deliveries in Q3. This week, new FAK rates were introduced for the Asia–North Europe route. MSC will implement a new rate of USD 4,500 per FEU for North European ports effective May 1. Meanwhile, Maersk plans to significantly raise rates starting May 11, increasing its Peak Season Surcharge (PSS) from the current USD 500 per FEU to USD 1,500 per FEU—a threefold increase. A major European importer noted that, in addition to the PSS, Maersk is also levying a Trade Disruption Surcharge to cover additional costs incurred from the Cape of Good Hope reroute.

Strong demand growth on the Asia–Europe route appears to have exceeded industry expectations.

A European freight forwarder revealed receiving a large number of client inquiries recently about slot allocation. Clients reported that contracted rates are far lower than spot rates, and shipping lines typically prioritize higher-paying cargo during peak periods. Søren Toft, CEO of Maersk, disclosed during the company’s recent Q1 earnings call with analysts that European importers have now entered a restocking phase. During this period, Maersk’s Europe-bound cargo volume has grown by 9%. Toft explained that this growth stems from last year’s relatively weak macroeconomic environment in Europe, which prompted importers to reduce inventory. With sustained consumption growth in the new year, European importers have now entered the restocking phase. According to Drewry’s World Container Index (WCI), the Shanghai–Rotterdam spot rate rose 2% week-on-week to USD 3,103 per FEU. Meanwhile, the Shanghai–Genoa spot rate climbed 3% to USD 3,717.6 per FEU. In practice, many shippers may already have paid higher freight charges to avoid shipment delays. A UK-based freight forwarder stated that the current sharp spike in spot rates may only be the beginning—demand has exceeded expectations, while some capacity has been absorbed due to Red Sea rerouting. The forwarder expects cargo volumes to remain high through Q2 as the peak season approaches, with market cooling likely only after new vessel deliveries in Q3. This week, new FAK rates were introduced for the Asia–North Europe route. MSC will implement a new rate of USD 4,500 per FEU for North European ports effective May 1. Meanwhile, Maersk plans to significantly raise rates starting May 11, increasing its Peak Season Surcharge (PSS) from the current USD 500 per FEU to USD 1,500 per FEU—a threefold increase.

European Shippers, Forwarders to Deliver Strong Q3 on Resilient Freight Demand

1 day ago

European logistics firms anticipate strong Q3 earnings amid high freight rates and supply-chain disruptions, prompting analyst upgrades for carriers like Maersk and Hapag-Lloyd.

reuters

2026-10-06

European Shippers, Forwarders to Deliver Strong Q3 on Resilient Freight Demand

European Shippers, Forwarders to Deliver Strong Q3 on Resilient Freight Demand

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