The global container shipping market recorded a further setback in mid-February 2026. According to the 19 February 2026 update of Drewry’s World Container Index, the composite index stands at 1,919 dollars per 40ft container, down 14 dollars from 1,933 dollars on 12 February, a 1% week-on-week decline and 31% lower year on year. This is the sixth consecutive weekly fall, driven by weakness on transpacific routes and Asia–Europe services.
The figure runs counter to seasonal expectations. Traditionally, in the weeks leading up to Chinese New Year, demand and spot rates strengthen as shipments are brought forward before Asian factories close. In 2026, however, the seasonal peak was reached early and the subsequent downward phase emerged sooner than anticipated. If the usual pattern continues, rates could fall further in the short term.
To limit the impact on margins and restore balance between supply and demand, carriers are taking decisive action on capacity. According to Drewry’s Container Capacity Insight, eight blank sailings have been announced for next week on the Asia–Europe and Mediterranean route, alongside 31 cancellations on services to the US East and West Coasts. This level of intervention signals active capacity management in a context of weakening demand.
On China–Europe routes, rates continue to contract. The Shanghai–Rotterdam service has fallen to 2,109 dollars per 40ft container, down 18 dollars week on week (-1%) and 19% lower year on year. The correction is even more pronounced on Shanghai–Genoa, which stands at 2,895 dollars, a weekly drop of 70 dollars (-2%) and 25% below last year’s level. The only short-term increase concerns the backhaul trade from Rotterdam to Shanghai, which has risen to 536 dollars (+11 dollars, +2%), up 8% year on year.
The transpacific market shows the sharpest movements. On Shanghai–New York, rates have fallen to 2,782 dollars, down 18 dollars week on week (-1%) and 46% lower year on year, the steepest decline among the main routes monitored. Shanghai–Los Angeles stands at 2,219 dollars, broadly stable on the week (+5 dollars) but down 43% year on year. On the return leg, Los Angeles–Shanghai is priced at 724 dollars, with no significant weekly change (-2 dollars) and a 3% annual increase.
In the transatlantic corridor, weekly changes are limited, but the annual trend confirms a rebalancing between headhaul and backhaul trades. Rotterdam–New York stands at 1,612 dollars, down 4 dollars on the week (0%) and 33% lower year on year. In the opposite direction, New York–Rotterdam has slipped to 957 dollars (-9 dollars, -1% week on week), but remains 15% higher than a year earlier.
An analysis of the main year-on-year shifts shows that the three sharpest declines concern Shanghai–New York (-46%), Shanghai–Los Angeles (-43%) and Rotterdam–New York (-33%). The strongest increases are concentrated on return routes: New York–Rotterdam (+15%), Rotterdam–Shanghai (+8%) and Los Angeles–Shanghai (+3%). Structural growth is therefore limited to backhaul trades, while export corridors from Asia and Europe show widespread contraction.
Overall, the market is displaying signs of structural rather than episodic weakness. The combination of an early peak, declining demand and extensive use of blank sailings suggests that an adjustment phase is still under way. The scale of capacity interventions, particularly on transpacific routes, indicates that operators are seeking to prevent further deterioration in rate levels in a fragile balance between cargo volumes and available slot capacity.
