Xeneta Weekly Ocean Container Shipping Market Update: Average Spot Rates Remain Elevated
Xeneta Weekly Ocean Container Shipping Market Update: Average Spot Rates Remain Elevated
in
International Shipping News
16/05/2026
The Xeneta Weekly Ocean Container Shipping Market Update provides data and intelligence including the latest freight rate and capacity movements across global trades with supporting insight from Peter Sand, Xeneta Chief Analyst.
Xeneta analyst insight
Peter Sand, Xeneta Chief Analyst:
Elevated Transpacific ocean freight rates plateau:
“Volatility in global ocean container supply chains means it is not often both shippers and carriers are ‘happy’ with the price they are buying and selling freight, but that is seemingly the case on Transpacific trades as average spot rates plateau at elevated levels amid ongoing conflict in the Middle East.
“Average spot rates from Far East to US West Coast remain up more than 50% compared to pre-conflict at the end of February, but have remained effectively flat over the past month.
“One factor behind the short term market p
Hidden cost of spiralling non-tariff measures
Hidden cost of spiralling non-tariff measures
in
International Shipping News
16/05/2026
W
hile the world’s attention is today fixed on the return of protectionist duties, a more surreptitious and costly shift is undermining the global trade landscape. According to the latest Global Trade Update from UN Trade and Development (UNCTAD), friction in modern trade is no longer found solely at customs desk but within complex and often opaque non-tariff measures (NTMs).
The update – Invisible Barriers: The Costs of Non-Tariff Measures, sees a new regime of “interventionism” replacing trade liberalisation. This has been driven by the lingering shocks of the COVID19 pandemic, the war in Ukraine, and the 2025 US tariff hikes.
Shipping Market Outlook: Q2 2026
Shipping Market Outlook: Q2 2026
in
International Shipping News
16/05/2026
T
he global shipping market is navigating Q2 2026 under the ongoing weight of an unprecedented geopolitical shock. The de facto closure of the Strait of Hormuz, now entering its third month, has fundamentally reshaped trade flows and earnings dynamics across all sectors. With no credible resolution in sight and the US military reported to be blocking vessels exiting the Strait, market uncertainty shows no signs of easing.
Tanker earnings reaching record levels in Q1 2026, with Aframax values hitting all-time highs in May.
Drewry: World Container Index Up 12% Last Week
Drewry: World Container Index Up 12% Last Week
in
International Shipping News
16/05/2026
For many years, World Container Index (WCI) has been the go-to, independent, global reference for index-linked contracts. If your organisation is considering index-linked contracts or requires regional visibility/coverage beyond the eight trade lanes provided below, contact our ocean freight cost benchmarking team.
Double-digit spot rate increases driven by early peak season and carrier surcharges.
Source: Drewry World Container Index, Drewry Supply Chain Advisors
Our detailed assessment for Thursday, 14 May 2026
The Drewry World Container Index (WCI) surged 12% to $2,553 per 40ft container, due to higher freight rates on Transpacific and Asia–Europe trade routes.
On the Transpacific trade route, rates surged this week due to the implementation of Emergency Fuel Surcharges (EFS) and Peak Season Surcharges (PSS) by carriers. Freight rates from Shanghai to New York increased 14% to $4,252 per 40ft co
Energy trade flows are rerouted as the Strait of Hormuz remains mostly closed
Energy trade flows are rerouted as the Strait of Hormuz remains mostly closed
in
International Shipping News
16/05/2026
No country has ever profited from protracted warfare,” the great Chinese military theorist known as Sun Tzu wrote around the 5th century BCE. It is a warning that may resonate in Washington today.
By today’s standards, the latest conflict in the Middle East has not been going on for a particularly long time. But it has already outlasted President Donald Trump’s suggestion in the early days of the campaign that it was intended to take four to five weeks.
The ceasefire that was agreed on 8 April has officially continued, although punctuated by sporadic attacks on shipping and land installations from both sides.
Long Beach Cargo Drops as Hormuz Crisis Keeps Pressure on Supply Chains
Photo courtesy Port of Long Beach
Long Beach Cargo Drops as Hormuz Crisis Keeps Pressure on Supply Chains
Mike Schuler
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May 15, 2026
The
Port of Long Beach
posted another year-over-year decline in cargo volumes in April as global market volatility, rising fuel costs and supply chain uncertainty continue to pressure international trade flows.
Longshore workers and terminal operators moved 817,992 twenty-foot equivalent units (TEUs) during the month, down 5.7% from April 2025, which marked the busiest April on record for the port.
Despite the decline, volumes remained historically strong as one of the nation’s leading trade gateways continues to navigate a volatile trade environment shaped by geopolitical tensions, shifting trade patterns and higher transportation costs.
“In our industry, the only certainty is uncertainty,” Port of Long Beach CEO Dr. Noel Hacegaba said in a statement released Thursday. “With recent supply chain disruptions adding volatility and instability
USS Ford Strike Group Earns Presidential Unit Citation After Historic Cruise
Presidential Unit Citation award and pennant aboard the Ford on Naval Station Norfolk, Virginia, May 16, 2026.
USS Ford Strike Group Earns Presidential Unit Citation After Historic Cruise
John Konrad
Total Views: 1
May 16, 2026
NORFOLK, Va. — America’s newest commissioned aircraft carrier USS Gerald R. Ford (CVN-78) tied up at Pier 11 this morning after 326 days at sea, completing one of the
longest deployment
by a U.S.
US Allows Russia Oil Sales Waiver To Expire Despite Tight Market
A drone view shows the Russian-flagged tanker Bratsk, which is under U.S. sanctions for links to the Russian state-owned shipping company Sovcomflot, near the Baniyas oil terminal, in Baniyas, Syria, April 8, 2026. REUTERS/Khalil Ashawi
US Allows Russia Oil Sales Waiver To Expire Despite Tight Market
Bloomberg
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May 16, 2026
By Jennifer A.
Suezmax Tanker With Iraqi Crude Reaches India After Hormuz Transit
A drone view shows the Malta-flagged tanker Agios Fanourios I, an oil tanker that sailed through the Strait of Hormuz, arriving in Iraq’s territorial waters off Basra, Iraq, April 17, 2026. REUTERS/Mohammed Aty
Suezmax Tanker With Iraqi Crude Reaches India After Hormuz Transit
Bloomberg
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May 16, 2026
By Julian Lee and Prejula Prem
May 16, 2026 (Bloomberg) –A
Suezmax tanker
identified as carrying Iraqi crude is approaching
India
after apparently crossing the Strait of Hormuz in recent days.
Observable daily commercial transits of the waterway in both directions dropped to five ships on Friday from 11 the previous day. There was a slight pick-up into Saturday morning, with six seen moving through the strait, vessel-tracking data compiled by Bloomberg show.
Transits into and out of the Persian Gulf remain far below
prewar
levels as the conflict enters a 12th week.
Iraq Exported 10 Million Barrels Of Oil Through Strait Of Hormuz In April
Drone view of oil tanker HELGA berthed at one of Iraq’s southern offshore oil terminals near Basra as it prepares to load crude oil, becoming the second vessel to arrive since the closure of the Strait of Hormuz, April 24, 2026. REUTERS/Mohammed Aty
Iraq Exported 10 Million Barrels Of Oil Through Strait Of Hormuz In April
Reuters
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May 17, 2026
By Muayad Hameed
BAGHDAD, May 16 (Reuters) –
Iraq
exported 10 million barrels of oil via the
Strait of Hormuz
in April, down from about 93 million barrels monthly before the Iran war, the country’s new oil minister, Basim Mohammed, said at a press conference on Saturday.
The closure of the Strait of Hormuz due to the Iran war has curtailed oil exports from Saudi Arabia, the UAE, Kuwait and Iraq, sending prices sharply higher.
“
Exports through the Strait of Hormuz
are low and depend on the arrival of oil tankers, which are not entering because of insurance”, he saidin his first press conference after taking office.
Iraq is currently