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Has a freight inflection point arrived? SCFI ends three-week winning streak; US routes stay firm while Europe routes weaken, putting May rate hikes under pressure.
Release time：
2026-04-22
Browsing：121次
Driven by expectations of US-Iran negotiations and Middle East tensions, container shipping market sentiment has turned cautious. The Shanghai Containerized Freight Index (SCFI) ended its three-week winning streak, entering a consolidation and wait-and-see phase, while expectations for early-May rate hikes have cooled.
On April 17, the SCFI stood at 1886.54 points, down slightly by 0.22% month-on-month. Freight rates on the Persian Gulf route fell by 3.26%, marking their first decline since late February. Divergence across routes has become more pronounced: freight rates from the Far East to the US West and US East rose by 2.35% and 1.88% respectively, supported mainly by carriers’ capacity control and service reductions as well as high oil prices, yet vessels were not fully loaded. Rates on European, Mediterranean and South American routes continued to retreat, with the European route falling for three straight weeks, pressured by excess capacity and weak demand. Australia & New Zealand and Southeast Asia short-haul routes bucked the trend with increases.
Long-term contract negotiations on US routes are currently at a stalemate, with intense bargaining between carriers and shippers. Amid a confluence of geopolitical tensions, elevated oil prices, and weak demand, the container shipping market is expected to remain range-bound in the short term, with limited upside for freight rates.
On April 17, the SCFI stood at 1886.54 points, down slightly by 0.22% month-on-month. Freight rates on the Persian Gulf route fell by 3.26%, marking their first decline since late February. Divergence across routes has become more pronounced: freight rates from the Far East to the US West and US East rose by 2.35% and 1.88% respectively, supported mainly by carriers’ capacity control and service reductions as well as high oil prices, yet vessels were not fully loaded. Rates on European, Mediterranean and South American routes continued to retreat, with the European route falling for three straight weeks, pressured by excess capacity and weak demand. Australia & New Zealand and Southeast Asia short-haul routes bucked the trend with increases.
Long-term contract negotiations on US routes are currently at a stalemate, with intense bargaining between carriers and shippers. Amid a confluence of geopolitical tensions, elevated oil prices, and weak demand, the container shipping market is expected to remain range-bound in the short term, with limited upside for freight rates.