The global container shipping market in early 2026 presents a striking paradox. While freight rates on key routes such as the US Line and Persian Gulf have reached historic highs, underlying data points toward a looming global overcapacity. In February 2026, despite healthy volumes, the global price

US-West Coast rates hold at 2,790/FEU while Europe plunges to 2,130/FEU—a 52% vs 8% drop since January. Trump's tariffs and blank sailings reshape global freight dynamics.