Container Shipping Market Sees "Three Consecutive Rises": Pre-Spring Festival Shipping Boom Drives Up Freight Rates on Major Routes

As the Lunar New Year approaches, the container shipping market has ushered in a small peak in shipments as scheduled. Data from the latest issue (December 26) of the Shanghai Shipping Exchange shows that the Shanghai Export Containerized Freight Index (SCFI) rose by 103.64 points to close at 1656.32 points, an increase of 6.66%, successfully achieving three consecutive weeks of growth .

Major Routes All Rise, Europe-Mediterranean Routes Perform Strongly

The freight index increase was universal this issue, with all four major ocean routes rising. Europe and Mediterranean routes saw the sharpest gains, both exceeding 10%.

Specifically, the freight rate from Shanghai to European base ports was $1,690 per TEU, up 10.24% week-on-week; the freight rate to Mediterranean base ports was $3,143 per TEU, up 10.94% week-on-week. Analysts believe that in addition to pre-Spring Festival shipping demand, the continuous operational pressure at some European ports has also provided additional support for freight rates.

North American routes also maintained an upward trend. The freight rate from Shanghai to US West Coast base ports was $2,188 per FEU, up 9.84%; the freight rate to US East Coast base ports was $3,033 per FEU, up 6.57%. Although the overall cargo volume on US routes is under pressure due to the external trade environment, the concentrated shipments before the Spring Festival have still created short-term demand, supporting the rebound in freight rates.

Traditional "Rush Shipping Boom", Market Shows Differentiated Pattern

The core reason for the continuous rise in freight rates in this round lies in the traditional "rush shipping boom" before the Lunar New Year. To cope with factory holidays, shippers have arranged shipping plans in advance, thus pushing up short-term container space demand. This seasonal effect is particularly obvious on ocean trunk lines.

However, the market is not fully prosperous but shows a significant differentiated pattern. In contrast to the booming European and American routes, some routes performed flatly. For example, although the freight rate on South American routes stopped falling and stabilized, it only rose slightly by 0.08%, indicating that cargo volume support is still weak.

Outlook: Mild Upward Trend Expected, New GRI to Be Implemented

In the last few weeks before the Spring Festival, the market generally expects freight rates to maintain a mild upward trend. Many shipping companies have announced plans to implement a new round of General Rate Increase (GRI) on January 1, 2026, and are building momentum for further raising freight rates in the first half of January.

Among them, the target for US West Coast routes is to rise to $3,000 per FEU, US East Coast to $3,900 per FEU, and European routes are expected to increase by about $1,000. This has injected a strong price increase expectation into the market.