Global Container Freight Rates Rise 130% Since February on Middle East Tensions: Jefferies

New Delhi, Oct 19 (KNN) Global container freight rates have risen 130 per cent since February 2026 amid renewed tensions in West Asia, according to a report by Jefferies, which identified shipping route changes and the potential return of vessels to the Suez Canal as key factors to watch.

"Freight rates have risen 130 per cent since Feb-26, due to the impact of Middle-East tensions," the report said. It added that "The potential impact of shipping lines' return to the Suez Canal, despite Middle East tensions, is a key monitorable."

Global container freight rates increased from around USD 2,000–2,500 in February to approximately USD 4,000–4,500 in October 2026, reversing the decline recorded through much of 2025 and early 2026, ANI reported.

The increase comes as India's containerisable export-import trade value rose 23 per cent year-on-year in September 2026. Exports increased 22 per cent, while imports grew 23 per cent, according to the report. Shipments to the United States rose 48 per cent, while exports to the United Arab Emirates and Saudi Arabia declined by 12–15 per cent.

Cargo volumes at India's major ports increased 13 per cent year-on-year in September, while non-major port volumes declined 1 per cent. 

Among non-major ports, volumes in Gujarat rose 3 per cent, while Maharashtra and Tamil Nadu recorded growth of 6–7 per cent. Ports on the eastern coast reported a sharp decline in volumes, the report said.

Jefferies noted that changes in shipping routes amid continuing tensions in West Asia could influence freight rates. The reported rise in shipping costs, however, does not establish that India's export-import growth has been adversely affected.

(KNN Bureau)