Freightos Baltic: Transpacific trims gains under holiday lull as Premier Alliance Suez return accelerates Asia–Europe rout

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Transpacific container freight held near annual highs in the week to 06 October 2026 as carrier blank sailings countered China’s Golden Week lull, whilst European corridors extended their decline following expanded Red Sea transits.

According to the Freightos Baltic Index (FBX), Asia–US West Coast rates edged down 1% to $8,322/FEU, and Asia–US East Coast held flat at $9,606/FEU. Conversely, Asia–Northern Europe fell 3% to $3,260/FEU, and Asia–Mediterranean slipped 2% to $3,555/FEU—unwinding all summer surcharges to return to mid-May levels.

The softening on Europe-bound lanes reflects expanding effective capacity as carriers resume shorter Suez Canal routings. The Premier Alliance—the final holdout among global consortia alongside MSC—confirmed select services will return to the Red Sea this month. While Mediterranean rates have fully deflated, Northern European routes remain roughly $400/FEU above May baselines due to lingering hub congestion across North Continent ports.

Transpacific rates remain insulated by aggressive liner supply management. Extensive blanked sailings across Golden Week, combined with persistent backlogs from three months of weather-related port delays in China, have established a firm rate floor ahead of the post-peak seasonal lull.

Upstream, Middle East crude exports via the Strait of Hormuz and Red Sea corridors are approaching pre-conflict volumes, nudging oil prices lower. However, bunker costs remain flat, as refining lags delay fuel relief for carriers navigating coastal tension near the Bab el Mandeb Strait.

Written by: Aiman Haikal