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ContainerSignal Daily: Maersk lifts surcharges as spot rates slide

By Toni Tan · · 12 min read

Container spot rates fell again in the week to 8 October, and carriers are moving to raise the charges that sit on top of them, a split that will shape what shippers actually pay in the fourth quarter. Maersk will lift two separate surcharges from November, one tied to Red Sea disruption on Indian Subcontinent exports and one to congestion on imports into Durban, while Drewry’s benchmark index declined for a second week and Asia-Europe rates fell for a thirteenth week in a row. The rate line and the surcharge line are now moving in opposite directions.

Today’s Signals

Freight Rates

Drewry’s World Container Index fell 1.87% to US$4,351 per 40ft container in the week to 8 October, from US$4,434 a week earlier, as demand weakened during China’s Golden Week, Drewry states. On the trans-Pacific, Shanghai to Los Angeles fell 3% to US$7,624 per 40ft and Shanghai to New York 2% to US$10,220, the publisher’s fuller figures show. On Asia-Europe, Shanghai to Rotterdam fell 2% to US$3,337 per 40ft while Shanghai to Genoa was unchanged at US$3,696. Four blank sailings are announced for next week on the trans-Pacific, down from eleven this week, and six on Asia-Europe, up from five. Drewry says carriers are trying to reverse the decline with higher FAK rates in the second half of October, that implementation is uncertain, and that the faster than expected return to the Suez route is the biggest threat to those increases. Asia-Europe rates have now fallen for 13 consecutive weeks. Container freight rate indexes explained sets out how these benchmarks are compiled.

Xeneta’s XSI put Far East to North Europe at US$3,645 per 40ft, down 2.5% week on week, and Far East to the Mediterranean at US$4,007 per 40ft, down 5.9%, with the Mediterranean down 43% and North Europe down 34% since 1 July, the analyst’s weekly update shows. Chief analyst Peter Sand says the pace of decline has eased but that rates are still elevated and the trend is still downward. On the Pacific, Xeneta had Far East to US West Coast spot rates at US$8,336 per FEU on 7 October, up 1.1% from 30 September, after the first daily decline in weeks, of US$2, FreightWaves reports. The Loadstar notes that unsolicited quotes seen by its reporters this week offered US$2,650 per 40ft from China to Felixstowe and Southampton, well below the XSI readings.

Freightos displayed its FBX global composite at US$3,344.00 per 40ft container with volatility of 0.36% on its public index page on 10 October; that page does not state the reading’s own date, so it is an indication only.

Carrier Updates

Maersk will increase its Emergency Contingency Surcharge on the S5S trade, which covers India, Bangladesh and Sri Lanka to South Africa and the Indian Ocean Islands, from US$500 to US$1,500 per container with effect from a Price Calculation Date of 1 November 2026. The carrier says the Red Sea and Gulf of Aden situation continues to affect global supply chains and that operational conditions have declined to support the increase. The revised level applies to dry, reefer, special equipment, out of gauge, non-operating reefer and shipper-owned containers unless otherwise specified.

Maersk is also raising its Congestion Fee Destination for Durban to US$450 per 20ft and US$900 per 40ft container on imports from Far East Asia, the Indian Subcontinent and the Middle East. The higher level applies from 1 November 2026 for non-regulated countries and Vietnam, and from 8 November 2026 for cargo from Korea and Taiwan.

In its North America Market Update for October, published on 7 October, Maersk says North Europe capacity to North America is returning to normal this month but spot space will stay limited, so it asks customers to book at least three weeks ahead. Canada East Coast capacity stays tight through October as low water levels cut how much cargo vessels can carry, and trans-Pacific capacity stays tight through October with typhoon-related delays. The Gemini Cooperation, Maersk’s network partnership with Hapag-Lloyd, blanked two sailings on the TP8 and TP12 services around Golden Week, and Maersk adds that draft restrictions at the Panama Canal remain a variable for East Coast cargo. What Is a Shipping Alliance? explains how cooperation agreements such as Gemini work. Maersk reports Gemini schedule reliability of 95.7% into the North America West Coast and 93.5% into the East Coast in Sea-Intelligence’s latest Global Liner Performance report, against industry averages of 69.7% and 71.5%, and says a Mediterranean Peak Season Surcharge of US$250 per dry or reefer container starts on 1 November 2026.

Ports

Jawaharlal Nehru Port Authority handled a record 834,697 TEU in September 2026, up 28.63% from 648,907 TEU a year earlier and above the previous record of 831,956 TEU set in August, Maritime Gateway reports. Volumes for April to September reached 4,661,517 TEU, up 17.61%. Nhava Sheva Freeport Terminal handled 134,193 TEU in September, more than double its 65,330 TEU a year earlier, while rail-borne containers were nearly flat at 590,004 TEU in the half year and rail’s share of volumes eased to about 12.7% from 14.8%.

DP World expects annual container handling capacity at Brazil’s Port of Santos to reach 1.7 million TEU by the end of this year as part of a R$1.6 billion (US$310 million) expansion, with a longer-term target of 2.1 million TEU, Splash 247 reports. The operator has taken delivery of two ship-to-shore cranes and six electric rubber-tyred gantry cranes. In Vietnam, Cai Mep International Terminal and Tan Cang-Cai Mep Thi Vai Terminal have begun joint commercial operations, creating a continuous 1,200 metre berth that the operators say could add nearly 900,000 TEU of annual capacity, or 30% to 40% per facility, Splash 247 reports.

Trade Routes

The Panama Canal Authority says canal operations were unaffected by the magnitude 7.7 earthquake that struck Panama on Friday, although emergency protocols were activated and technical teams were sent to inspect locks, dams and other infrastructure, Splash 247 reports. The US Geological Survey recorded the quake at 12.56pm local time, with an epicentre in southern Panama about 200 km from Panama City at a depth of 12.6 km. Inspections found minor damage to four office buildings on the canal’s Pacific side and structural damage to elevated water tanks at the Monte Esperanza water treatment facility in Colón, and the authority dismissed local rumours that a gate at the Agua Clara neopanamax locks had been dislodged. More than 40 aftershocks followed.

The Journal of Commerce reports that Hapag-Lloyd will leave the MSC and ONE Ipanema/SX1 loop on the Asia to East Coast South America trade in April, describing it as the latest reshuffle on a trade where six of the top 10 global carriers have reworked services in recent months, JOC reports, which is paywalled beyond the summary.

Fleet & Capacity

The 5,593 TEU HMM Platinum is seeking a port of refuge in South Africa after a fire on board, with salvors appointed under Lloyd’s Open Form and cargo interests facing the prospect of general average, Splash 247 reports. The Liberian-flagged ship, built in 2013, was sailing from Kattupalli in India to Santos in Brazil when the fire broke out in a container off southern Madagascar, according to claims specialist W.E. Cox, which says about 2,300 containers were on board. Salvage specialist SMIT has been engaged, and Gqeberha, formerly Port Elizabeth, has been identified as a possible refuge after an initial plan to divert to Durban with an expected arrival on 8 October.

Regulation & Policy

In the same North America update, Maersk flags three customs changes. US Customs and Border Protection has voided the importer of record number of any importer or broker failing to provide complete and accurate identity information, a policy in effect since 18 September 2026, and a voided number cannot be used to enter goods. Separately, CBP issued an advance notice of proposed rulemaking on 2 September with 64 questions on possible import disclosure requirements, including whether importers should submit the export documents their suppliers file with foreign customs; comments are due by 1 December 2026 and no new requirements apply yet. From 1 October 2026, all importers into Mexico must file the customs valuation declaration electronically, after the transition period ended on 30 September.

What It Means

The two halves of the pricing picture are diverging. Base spot rates on both main east-west lanes are still falling, with Asia-Europe down 13 weeks running, yet the charges stacked on top of the base rate are rising into November: a tripled contingency surcharge on one Indian Ocean trade, a Durban congestion fee up to US$900 per 40ft, and peak season and fuel surcharges across other lanes. Our weekly market update recorded the same softness in Asia-Europe spot pricing. For a shipper entering tender season, the headline index will understate the door cost, and Drewry’s advisory head Chantal McRoberts warned this week that surcharges, including inflated fuel and pre-peak season charges, are causing the biggest consternation and that contracts need guardrails around them. For carriers, surcharges are the remaining lever now that the Suez return is adding capacity to Asia-Europe, while Maersk’s own October update still describes space out of Asia as tight through the month, so booking lead times matter more than the index level.

Sources

Background reading

The explainers behind today's stories, if you want the fundamentals first.

Asia-Europe rates fall even as the container network stays tight

Asia-Europe spot rates fell for a twelfth week while intra-Asia set another record and mid-size tonnage ran scarce. The two readings measure different layers.

Asia-Europe spot rates extend their fall as Transpacific gains stall

Drewry's World Container Index fell 1% to US$4,434 per 40ft in the week to 1 October, Asia-Europe's twelfth weekly decline, while Transpacific gains slowed.

What is a blank sailing? Container capacity and schedules

A blank sailing is a scheduled container voyage or port call that a carrier cancels. Why they happen, how they are announced, and what shippers can do.

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