Freightos Baltic: Global container freight rates surge to four-month highs as peak season demand returns

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Global container freight rates extended their upward trajectory in the week to 27 May 2026, climbing to levels last seen in late January as elevated fuel cost baselines and the early onset of peak season demand buoyed major trade lanes.

According to Freightos Baltic data, stronger cargo flows on both the Asia–Europe and transpacific routes continued to lend support to freight markets, with carriers pushing through a series of general rate increases (GRIs) and peak season surcharges (PSSs).

On the Asia–North Europe route, May GRIs lifted spot rates by around $300/FEU from end-April levels to approximately $2,900/FEU. The latest levels marked a return to the wartime highs recorded at the end of March and stood within $100/FEU of the pre-Lunar New Year peak.

Meanwhile, freight rates from Asia to the Mediterranean surged 20% during the week to nearly $4,400/FEU, surpassing the March peak by roughly $100/FEU.

Market participants attributed the strengthening trend partly to the continued Red Sea diversions, which have prolonged transit times for European importers. In addition, reports suggested some contracted shippers had begun frontloading cargoes ahead of higher bunker adjustment factors (BAFs) scheduled to take effect in July, contributing to an earlier-than-usual start to the peak shipping season on the Europe-bound trades.

Carriers have subsequently announced additional GRIs and PSSs ranging from $600/FEU to over $1,000/FEU, in a bid to drive rates higher through mid-June.

The transpacific market also posted firm gains, with successful mid-May GRIs pushing rates up by more than 10% on both major lanes during the week under review.

The latest increases pointed to an early start to the peak season on the transpacific as well, amid expectations of stronger cargo demand. Market sources noted that upcoming BAF revisions and Amazon’s late-April decision to move its Prime Day sales event from July to June may have encouraged some advance shipments and supported the recent rebound in volumes.

In response to the anticipated demand strength, Maersk reportedly plans to deploy an additional loader through August, while carriers have also announced peak season surcharges of as much as $2,000/FEU for June shipments.

Written by: Rochelle Nguyen