Nuran Erkul
05 June 2026•Update: 05 June 2026
Container freight spot rates skyrocketed by 80% since the start of the US-Israel-Iran war at the end of February, as trade flows in the Strait of Hormuz remain 90% below normal levels amid ongoing geopolitical uncertainties in the Middle East.
Following the outbreak of the war on Feb. 28, massive disruptions to trade flows in the Strait of Hormuz continue to drive up freight rates in the spot market, while rising bunker fuel costs and fuel surcharges lead to more upward pressure on freight rates.
The rerouting of maritime trade in the Red Sea is extending transit and delivery times, prompting importers to place orders earlier to compensate for the latency.
Maritime researcher Drewry reported its benchmark World Container Index (WCI) for a 40-foot container surged to $3,344 as of June 4, marking a stark difference from $1,899 on Feb. 26.
As the 100th day of the conflict draws near, container freight rates are nearing the highest level of last year, when they reached as high as $3,543 on June 12, 2025.
The rise came in after freight rates on Trans-Pacific and Asia-Europe trade routes increased, as well as capacity due to container ships stranded in the strait reduced.
The spot freight rate for a 40-foot container on the Shanghai-New York route rose 98% since the start of the war to $5,505. Prices on the Shanghai-Los Angeles route increased 108% to $4,565 over the same period.
Shippers bringing their orders forward ahead of the US tariffs expected to take effect in July, along with increased cargo demand due to the 2026 FIFA World Cup, continue contributing to the upward trend in prices in addition to the Strait of Hormuz disruptions.
The spot freight rate on the Shanghai-Rotterdam route rose 71% since the start of the war, reaching $3,570.
Some bookings on the Asia-Europe route have been moved to June ahead of bunker fuel price adjustments that are expected to take effect on July 1, pushing up prices.
*Writing by Emir Yildirim in Istanbul
