Container Shipping Rates Rise as Asian Factories Reopen—But Hormuz Crisis Threatens New Shock

Global container shipping rates edged higher this week as Asian export activity begins to rebound following the Lunar New Year holiday, with carriers preparing to restore capacity across major trade lanes—though a rapidly escalating security crisis in the Middle East threatens to inject fresh volatility into the market.

According to the latest reading from the Drewry World Container Index (WCI), the benchmark for global container spot rates, the composite index rose 3% to $1,958 per 40-foot container in the week ending March 5, marking the first increase after seven consecutive weekly declines.

The increase comes as factories across Asia gradually return to full production after the holiday slowdown, prompting shipping lines to scale back blank sailings and begin reintroducing vessel capacity.

Spot rates from Shanghai to Los Angeles climbed 10% to $2,402 per forty-foot container, while rates from Shanghai to New York rose 7% to $2,977, according to Drewry’s weekly assessment.

Rates on Asia–Europe routes, however, remained under pressure. Freight prices from Shanghai to Rotterdam slipped 2% to $2,052, while Shanghai to Genoa edged up just 1% to $2,844, reflecting continued softness on the corridor despite expectations that export volumes will rebound through March as Asian manufacturing activity resumes.

“Volumes typically rebound in March as factories across Asia reopen,” Drewry said in its assessment, noting that carriers are already preparing to reintroduce capacity to the Asia–Europe and Mediterranean trades. Only four cancelled sailings have been announced on the route over the next two weeks, suggesting a gradual normalization of services.

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 #Transportation pic.twitter.com/ITfEEmGSEw

— Drewry (@DrewryShipping) March 5, 2026

A similar shift is underway across the Pacific. According to Drewry’s Container Capacity Insight, only four blank sailings have been announced for the coming week on transpacific East and West Coast routes, significantly fewer than earlier in the year as production ramps back up following the holiday lull.

Yet the market rebound comes as geopolitical tensions threaten to inject new volatility into shipping costs worldwide.

Commercial shipping through the Strait of Hormuz has largely ground to a halt following coordinated U.S. and Israeli strikes on Iran.

Energy markets have already reacted sharply. The Strait handles roughly 20% of global oil supply, and the disruption has pushed crude prices higher amid mounting concerns over supply. If the situation persists, Drewry warned that the knock-on effects could spread quickly through container shipping economics.

“Rising bunker fuel costs, war-risk premiums and operational disruptions could increase overall freight costs and place upwards pressure on container shipping rates,” the firm said.

While container shipping has relatively limited direct exposure to the Gulf compared with tanker and LNG trades, the indirect impacts could prove significant. Extended diversions around Africa, higher insurance costs, and elevated fuel prices would all feed into carrier pricing and operational strategies.

Recent analysis from Drewry suggests that only about 158 containerships—roughly 691,000 TEU, or about 2.1% of global capacity—were operating in the Gulf region at the start of the crisis, limiting the sector’s immediate operational exposure.

Even so, prolonged instability could delay plans by some carriers to resume Suez Canal transits after months of Red Sea disruptions, potentially tightening effective vessel supply and supporting freight rates.

For now, the container market sits between improving seasonal demand and mounting geopolitical risk. If Asian export volumes continue to rebound while energy costs climb, the early March uptick in freight rates may prove to be the first signal that global shipping markets are entering another period of disruption-driven volatility.

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