The first encouraging signs of improvement in container handling are appearing at the port of Piraeus, at the same time that the de-escalation of tensions in the Middle East is creating expectations for the gradual restoration of regular sea routes through the Suez Canal.
The data of Cosco Shipping Ports for the Piraeus Container Terminal show that at Piers II and III, 347 thousand TEUs were handled in May, compared with 337 thousand TEUs in the corresponding month of 2025, recording an increase of 2.8%.
This is the second consecutive monthly increase in 2026 and the best performance of the last twelve months. Despite the positive development, the overall picture of the first five months remains negative.
From January through May 2026, handling at the two piers amounted to 1.628 million TEUs, compared with 1.674 million TEUs in the corresponding period of 2025, recording a decline of 2.8%.
Market executives point out that the possible return of a larger number of container ships to the route via Suez could further strengthen the role of the port of Piraeus as a key transshipment hub of the Eastern Mediterranean.
In the same climate of restrained optimism moves the world's largest container liner company, Maersk. As it announced, late on the night of June 24 and until the early morning hours of June 25, the containership Maersk Baltimore, as well as another vessel chartered by the company, successfully passed through the Strait of Hormuz and exited the Persian Gulf.
According to the company, the transits took place after extensive risk assessments and in close coordination with its partners in the field of maritime security, without any incident being recorded. Maersk also disclosed that three more of its ships remain in the Persian Gulf, while one additional transit through the Strait of Hormuz is also being planned, provided security conditions allow it. This development strengthens indications that major container shipping companies are gradually beginning to reconsider the use of the region's sea lanes, while nevertheless maintaining as an absolute priority the safety of crews, ships, and cargoes.
Increase in container freight rates
International container freight rates recorded an upward trend, with the Drewry World Container Index (WCI) strengthening by 5% and standing at $4,166 per 40-foot container. This is the highest level of the composite index since September 2024, a development attributed mainly to the significant rise in freight rates on transatlantic trade routes.
Specifically, spot rates from Shanghai to New York increased by 6%, reaching $7,149 per 40-foot container, while on the Shanghai-Los Angeles route the increase was even greater, at 12%, with rates standing at $5,750.
According to the latest Drewry "Container Capacity Insight" report, only four sailing cancellations have been scheduled for the coming week, indicating that available capacity remains limited.
At the same time, demand on the Asia-United States route continues to be strong, as many importers are bringing forward their orders in view of possible changes in tariff policy and the expected increase in fuel costs.
At the same time, the scheduled implementation of general rate increases (General Rate Increase - GRI) and additional peak season surcharges (Peak Season Surcharge - PSS) from July is expected to maintain upward pressure on the container shipping market, as shipping companies seek to adjust their charges to strong demand and the continuing limited availability of capacity
On the Asia-Europe route, spot rates generally maintained their stability, with prices from Shanghai to Rotterdam edging up 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 sailing cancellations have been scheduled for the next week on the Asia-Europe route, an indication that available capacity remains limited.
At the same time, the market continues to be supported by increased demand, as several shippers are bringing forward their shipments before the implementation of the new freight surcharges from July 1.
In this context, CMA CGM announced new Freight All Kinds (FAK) rates, 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, from July 1 the company will apply a Peak Season Surcharge (PSS), that is, an additional peak season charge, 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 reduced.
Based on the above data, Drewry estimates that rates on the Asia-Europe route will move upward in the coming weeks.
SOURCE: ANA-MPA