The Port of Piraeus is showing the first encouraging signs of improvement in container traffic, while the de-escalation of tensions in the Middle East is raising hopes for a gradual resumption of regular shipping routes through the Suez Canal.
Data from Cosco Shipping Ports for the Piraeus Container Terminal show that 347,000 TEUs were handled at Piers II and III in May, compared to 337,000 TEUs in the same month of 2025, marking a 2.8% increase.
This marks the second consecutive monthly increase in 2026 and the best performance in the last twelve months. Despite this positive trend, the overall picture for the first five months remains negative.
From January through May 2026, cargo volume at the two terminals totaled 1.628 million TEUs, compared to 1.674 million TEUs during the same period in 2025, marking a 2.8% decline.
Industry executives point out that the potential return of a larger number of container ships to the Suez route could further strengthen the role of the Port of Piraeus as a key transshipment hub in the Eastern Mediterranean.
Maersk, the world’s largest container liner company, is also operating in this spirit of cautious optimism. As the company announced, late on the night of June 24 and into the early morning hours of June 25, the container ship Maersk Baltimore, along with another vessel chartered by the company, successfully transited the Strait of Hormuz and exited the Persian Gulf.
According to the company, the transits took place following extensive risk assessments and in close coordination with its maritime security partners, without any incidents occurring. Maersk also announced that three more of its ships remain in the Persian Gulf, while an additional transit through the Strait of Hormuz is planned, provided security conditions permit. This development reinforces indications that major container shipping companies are gradually beginning to reconsider the use of the region’s sea lanes, while maintaining the safety of crews, ships, and cargo as their top priority.
Increase in Container Freight Rates
International container freight rates have trended upward, with the Drewry World Container Index (WCI) rising by 5% to $4,166 per 40-foot container. This is the highest level the composite index has reached since September 2024, a development attributed primarily to the significant rise in freight rates on transatlantic trade routes.
Specifically, spot rates from Shanghai to New York rose by 6%, reaching $7,149 per 40-foot container, while on the Shanghai–Los Angeles route, the increase was even greater—12%—with freight rates standing at $5,750.
According to Drewry’s latest “Container Capacity Insight” report, only four voyage cancellations are scheduled for the coming week, indicating that available capacity remains limited.
At the same time, demand on the Asia-United States route remains strong, as many importers are rushing their orders in anticipation of potential changes in tariff policy and the expected rise in fuel costs.
At the same time, the scheduled implementation of General Rate Increases (GRI) and Peak Season Surcharges — PSS) starting in July is expected to maintain upward pressure on the container shipping market, as shipping companies seek to adjust their rates in response to strong demand and the ongoing limited availability of capacity
On the Asia-Europe route, spot rates remained generally stable, with rates from Shanghai to Rotterdam rising marginally by 1%, to $4,392 per 40-foot container, while on the Shanghai-Genoa route they remained unchanged at $5,759.
According to Drewry’s Container Capacity Insight report, only three voyage cancellations are scheduled for the Asia-Europe route next week, an indication that available capacity remains limited.
At the same time, the market continues to be driven by increased demand, as many shippers are rushing their shipments ahead of the implementation of new freight surcharges effective July 1.
In this context, CMA CGM has announced new flat-rate freight rates (FAK—Freight All Kinds), which apply to most types of general cargo, amounting to $6,300 per 40-foot container for routes from Asia to Northern Europe and from $7,700 to $8,500 for shipments from Asia to the Mediterranean.
At the same time, the company will implement a Peak Season Surcharge (PSS) starting July 1, amounting to $1,000 per 20-foot container on shipments from Asia to Northern Europe and $1,400 per 20-foot container on routes to the Mediterranean. This surcharge is imposed by shipping companies when demand for transport increases significantly and available capacity is limited.
Based on the above data, Drewry estimates that freight rates on the Asia-Europe route will rise in the coming weeks.
SOURCE: APE