Global container shipping rates jump 130% since February amid Middle East unrest

According to a Jefferies report, global container freight rates have surged by about 130% since February 2026, climbing from roughly $2,000-$2,500 to $4,000-$4,500 per container by October. The rise follows a decline that began in early 2025 after rates peaked in 2024, and is linked to renewed tensions in West Asia. India’s container-based trade recorded strong September growth, with total trade value up 23% year-on-year, driven by a 22% export increase and a 23% rise in imports; exports to the United States jumped 48%, while shipments to the UAE and Saudi Arabia fell 12-15%.

Port traffic data show major Indian ports handling 13% more volume, whereas non-major ports slipped 1%, with regional variations such as growth in Gujarat, Maharashtra and Tamil Nadu but declines on the eastern coast. Jefferies highlights the potential re-routing of vessels through the Suez Canal amid ongoing Middle-East tensions as a key variable for future freight pricing.