US East Coast Container Spot Rates Nearing Covid-19 Peak

Average spot rates for container shipments from the Far East to the US East Coast have continued to rise, climbing 25% since early July, according to Xeneta Chief Analyst Peter Sand, as reported by Hellenic Shipping News Worldwide. These rates are now 14% below the Covid-19 peak recorded on 1 January 2022. Xeneta indicates that while it is considered unlikely to surpass that previous record, it cannot be ruled out.

Spot rates into the US East Coast have already exceeded the Red Sea crisis peak by approximately USD 1,000 per FEU. Although the growth in these rates has moderated, further upward pressure is anticipated with Golden Week approaching in early October.

In contrast, spot rates into Europe have seen declines. Rates from the Far East to North Europe have fallen by 18% since early July, and rates into the Mediterranean are down 28%. The transatlantic trade lane to the US East Coast, however, continues to show increases, reaching USD 3,000 per FEU, marking the highest level since April 2023.

Spot Rate Overview

As of 3 September 2026, market average spot rates included:

• Far East to US West Coast: USD 7,496 per FEU
• Far East to US East Coast: USD 10,910 per FEU
• Far East to North Europe: USD 4,532 per FEU
• Far East to Mediterranean: USD 5,073 per FEU
• North Europe to US East Coast: USD 2,937 per FEU

Compared to 28 February 2026 (pre-crisis), spot rates have seen significant increases across various routes, including a 305% rise for the Far East to US East Coast trade lane and a 289% increase for the Far East to US West Coast. The Covid-19 peak for the Far East to US East Coast was USD 12,683 per FEU, while the Red Sea crisis peak stood at USD 10,034 per FEU.

Deteriorating Reliability

Simultaneously with rising rates, schedule reliability has deteriorated, according to Xeneta data. Global schedule reliability declined for a third consecutive month, reaching 29.4% in August, down from a 30-month high of 39% in May. This means that fewer than three in ten ships departed on time in August, compared to four in ten just four months prior.

The typhoon season in Asia has contributed to this decline, particularly affecting on-time performance on Far East to Europe services, which dropped from 47% in mid-June to 3% by the end of July. Performance on Far East to North America routes fell from 38% to 19% over the same period. Xeneta's Chief Analyst noted this as a contradiction where shippers pay more for poorer service.