Intra-Asia container spot rates surge due to high demand, rising fuel costs, and market optimism, with significant increases reported across key routes.
Container spot rates on intra-Asia trades have jumped by double digits year on year, driven by robust cargo demand, higher bunker costs, and market optimism, reports London's S&P Global.
Orient Overseas Container Line has introduced general rate increases of US$25 to $100 per TEU depending on the trade, while Maersk, Ocean Network Express, and Hapag-Lloyd have kept June rates unchanged. Executives say volumes and rates are rising unusually early in the year.
Wider trade disruptions from the Middle East war have tightened capacity and lifted long-haul rates. Xeneta data show Shanghai-Singapore spot rates are up 56 percent since late February to $1,489 per FEU, Shanghai-Vietnam is up 40 percent to $1,287 per FEU, and Shanghai-Bangkok is up 15 percent to $1,648 per FEU.
Drewry's intra-Asia index hit a record $959 per FEU on May 22, supported by higher Shanghai-Dubai rates. Container Trade Statistics reported regional volumes rose 7 percent in the first quarter to 11.9 million TEUs, after a five percent increase to 50 million TEUs in 2025.
SITC lifted volumes eight percent to 855,795 TEU in the first quarter, while Cosco Shipping Holdings rose six percent. Executives cite stronger consumer demand in Asia and early peak-season shipments to Europe and North America.
Rising fuel costs are also pushing rates higher. Singapore's high-sulphur fuel climbed 15 percent this year to $665 per tonne by May 22, while low-sulphur diesel rose 22 percent to $834 per tonne. Analysts say surcharges and port congestion in Singapore, Shanghai, and Japanese hubs are adding pressure on intra-Asia trades.
