Spot Rates Slide as Carriers Implement Blank Sailings to Manage Capacity

Far East Asia – Europe Ocean Freight Update: August 12 – August 19, 2026

Asia-Europe spot rates have continued to deteriorate since reaching their seasonal high during the beginning of summer. August middle rates saw Shanghai-Genoa rates decline by 8% to about $5,080 per 40-foot equivalent unit (FEU) while Shanghai-Rotterdam rates fell by 5% to $4,425 per FEU.

This changing dynamics of the market is mirrored by the changes in the pricing models of the leading operators. Maersk, for instance, made the recent declaration that, starting September 1, 2026, there would be no Peak Season Surcharge (PSS) for the cargoes transported from Far East Asia to Northern Europe and the Mediterranean. Even though the efforts by MSC and other competitors to enforce FAK rates from $6,700 to $7,100 per FEU, which were effective as of August 15, seem rather questionable given the current low-demand conditions.

In response to the fast softening pace, the shipping alliances are deliberately limiting vessel space. According to the reports of the regional marine tracking agencies, nearly 50 vessels sailings have been planned from mid-August till late September in major East-West routes. With such capacity reduction in mind, shipping companies will be able to create a floor of the spot rates to avoid total prices fall before the significant Golden Week holiday in China. In this period of uncertainty, the logistics players are taking actions – Jet Freight Logistics has expanded its ocean services by 3 times in Asia-Europe route.

Even with the reduction in base freight costs, the physical transport of cargo continues to be extremely challenging. The ports at the point of origin from Eastern China continue to struggle with vessel bunching and port congestion that were brought about by Typhoon Dolphin. In the destination region, European supply chains have faced yet another logistical challenge in the form of critically low water levels along the Rhine river, which has greatly affected barge movements inland.

In the near term, shippers using the Far East to Europe trade lane will find themselves in a market that is tightly controlled and constricted. Although it is positive that peak season charges have been immediately reduced, the aggressive use of blank sailings on the part of ocean carriers will reduce capacity ahead of September. On top of this, the negative impact of the long-term diversion of traffic around the Cape of Good Hope, as well as congestion in China following typhoons and river delays in Europe will guarantee that schedules continue to be unreliable.