Ports and Shipping Update: Delays, Congestion and Container Rates

October 8, 2026 | ATN Trade & Finance

Container rates on transpacific lanes are still running at their highest levels since the 2021–22 supply chain crisis, port congestion is widespread across three continents, and the biggest variable — the Strait of Hormuz — remains unresolved. Here is where things stand as of this week.

Container Rates: Transpacific Near Peak, Asia-Europe Softening

The Drewry World Container Index composite came in at $4,434 per 40-foot container for the week ending October 1 — down 1% week-on-week, but still dramatically elevated from earlier in the year. The split between trade lanes tells the real story. Transpacific rates are holding: Shanghai to New York was up 1% to $10,428/40ft, and Shanghai to Los Angeles was flat at $7,835/40ft. Asia-Europe, by contrast, has fallen for 12 consecutive weeks — Shanghai to Rotterdam dropped to $3,399/40ft and Shanghai to Genoa to $3,702/40ft.

Xeneta's spot market confirms the transpacific peak. Far East to US West Coast hit $8,346/FEU (+1.4% week-on-week) and Far East to US East Coast $11,523/FEU (+0.7%). Xeneta projects these rates to ease to $4,500–5,500 and $6,000–7,000 respectively by early 2027 — still high by pre-2022 standards.

The underlying driver is the Hormuz conflict. Bunker fuel surged approximately 68–70% since mid-February, adding roughly $500 million per month to Maersk's costs and $250–300 million to Hapag-Lloyd's. Carriers have passed those costs through, and effective capacity has fallen about 19% from pre-crisis levels due to rerouting and slow steaming.

The Suez Return

The one tentative positive: carriers are beginning to move back through the Suez Canal on Asia-Europe sailings. COSCO's OOCL Spain (24,200 TEU) made what was expected to be the first westbound Suez transit in over two years on October 4, and Drewry reports week-39 canal transits were 68% higher year-over-year. Premier Alliance has bookings through the Red Sea from November. An estimated 140 boxships, representing roughly 2 million TEU of capacity, have shifted from the Cape of Good Hope route since May. The caveat: a reported Houthi commitment not to target European cargo ships has not been formally confirmed by the EU, leaving the security picture unsettled.

Port Congestion: North America and Beyond

The Kuehne + Nagel port operations bulletin for September 30–October 6 flags several active alerts. In North America, Lázaro Cárdenas, Mexico is reporting roughly 3.4 days of average vessel wait time as Tropical Storm Rachel brings adverse weather to the Pacific coast — with California also in its path. Los Angeles is seeing inland rail and transport constraints, and the Vincent Thomas Bridge faces a 16-month closure starting this autumn for deck replacement. Rail dwell times are running 12 days at Jacksonville, 9 days at both Wilmington and Long Beach, and 8 days at Los Angeles and Saint John.

Globally, Durban, South Africa has severe congestion (~7.0 days wait), Shanghai is at 3.5 days with yard density running high, and Bremerhaven yard occupancy is at 92%.

What this means for importers and supply chain managers: Transpacific rates are at or near their 2026 peak but are not yet collapsing — Xeneta sees support into early 2027. The Suez return, if it holds, will add capacity to Asia-Europe routes but offers no near-term relief for North America. The most immediate operational exposure for Canadian and US importers is the combination of elevated Pacific lane rates, the Lázaro Cárdenas weather disruption, and the growing rail dwell problem at West Coast ports. Anyone with Q4 inventory still moving by sea should be tracking the Hormuz situation closely: any resolution would ease bunker costs and rates quickly.

Sources:

Ports and Shipping Update: Delays, Congestion and Container Rates

Ports and Shipping Update: Delays, Congestion and Container Rates

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