The Drewry World Container Index (WCI) dropped 4%, with declines across the Trans-Pacific and Asia-Europe trade lanes.
As reported by gCaptain, Trans-Pacific spot rates dropped by as much as 10% despite the typical pre-Chinese New Year demand surge. Analysts warned the seasonal uptick would be short-lived, forecasting a 10% year-on-year drop in container volumes for 2026.
According to a report by The Loadstar, carriers have begun blanking sailings on Trans-Pacific lanes, strategically timed around the Chinese New Year holiday starting February 17.
Meanwhile, Asia-Europe rates remain under pressure from ongoing instability in the Red Sea. As reported by gCaptain, intensifying tensions amid protests in Iran and worry over U.S. military intervention are adding to the uncertainty.
In a LinkedIn post, Lars Jensen, CEO of Vespucci Maritime observed that with Maersk’s recent announcement of the return of its MECL service connecting the Middle East and India with the U.S. East Coast, other carriers will be evaluating their own next steps. Jensen said the return of vessels to the Red Sea could happen after the Chinese Lunar New Year period.
BIMCO Chief Shipping Analyst Niels Rasmussen, had previously reported that container traffic through the Suez Canal in the first weeks of 2026 was still 60% below pre-crisis levels.
Source: Drewry, gCaptain, The Loadstar, Maersk