Asia-Europe and Transpacific Container Trades Exhibit Divergent Trends in Early 2026

Container shipping routes connecting Asia, Europe, and the United States presented a mixed performance in the initial months of 2026. Weakening demand on the transpacific trade lane contrasted with resilient cargo volumes on the Asia-Europe route, alongside continued freight rate volatility, according to recent data from the Japan Maritime Center.

Transpacific Trade Faces Demand Slowdown

On the transpacific route, container volumes from Asia to the United States experienced a notable decline in April. Total exports from 18 Asian economies to the U.S. decreased by 8.8% year-on-year to 1.66 million TEU. Cumulatively, volumes for the first four months of 2026 fell by 6.3% compared to the same period in the previous year.

China, despite a significant contraction of 17.5% year-on-year to 749,721 TEU in April, remained the largest exporter on this route. Exports from India also saw a substantial drop of 22.9%, and Taiwan recorded an 11% decline. Conversely, Southeast Asia continued to gain market share, with ASEAN exports growing by 6.9% to 575,782 TEU. Thailand demonstrated particularly strong growth at 23.3%, while Cambodia surged by 48.5%.

This slowdown in transpacific cargo volumes was evident across several major commodity categories, including furniture and bedding (down 12.7%), machinery (down 10.8%), textiles (down 15.3%), and electrical equipment (down 15.4%).

Freight rates on the Asia-US trade lane remained volatile. Shanghai–Los Angeles spot rates in April were approximately USD 2,476 per FEU, slightly above 2025 levels, while Shanghai–New York rates reached USD 4,002 per FEU. Cargo moving from Japan to the U.S. East Coast experienced even stronger pricing momentum, with Yokohama–New York 40-foot rates rising 33.5% year-on-year to USD 6,224.

Asia-Europe Trade Shows Resilience

In contrast, the Asia-Europe trade route demonstrated greater cargo resilience. Container volumes from Asia to Europe increased by 1.7% year-on-year in March to 1.64 million TEU, with first-quarter volumes surging by 15% to 5.18 million TEU.

China maintained its dominance in Asia-Europe exports, accounting for over 75% of total shipments on this route. Southeast Asia also strengthened its position, with a 7.1% increase in cargo volumes. Northern Europe remained the primary destination region, receiving more than 60% of all Asian exports to Europe.

However, return cargo from Europe to Asia remained weaker. European exports to Asia declined by 0.4% year-on-year in March, and cumulative first-quarter volumes dropped by 3.3%. Northern Europe constituted nearly 68% of outbound European cargo.

Freight rates on the Asia-Europe trade route showed signs of stabilization following sharp corrections throughout 2025. Shanghai–Rotterdam 40-foot rates stood at USD 2,941 in March, while Shanghai–Genoa rates were USD 3,548. Cargo from Yokohama to Rotterdam recorded a year-on-year decline, though rates improved sequentially during the first quarter.

The latest China Containerized Freight Index (CCFI) data further indicated continued weakness in the U.S. trades compared to the previous year. In early 2026, indices for both U.S. West Coast and East Coast remained significantly below 2025 levels, despite modest recovery signs observed in April.

Intra-Asia Trade Experiences Mixed Performance

Within the intra-Asia trade, container cargo between Japan and China yielded mixed results. Japanese exports to China increased by 9.1% year-on-year in March to 763,000 tonnes, driven by strong shipments of machinery, copper products, and chemicals. The trade value rose by 22.5% to over JPY 1 trillion.

Conversely, Chinese exports to Japan declined by 4.1% year-on-year to 1.73 million tonnes, reflecting weaker imports of agricultural products, textiles, and furniture into the Japanese market.

Container freight rates within Asia also moved unevenly. Rates from Yokohama to Shanghai increased by more than 20% year-on-year for 20-foot containers during the first quarter, while rates to South China and North China remained relatively stable or slightly lower.

In summary, the latest market data highlights an increasingly fragmented container shipping environment in 2026, characterized by shifting sourcing patterns, softer U.S. demand, resilient Asia-Europe trade flows, and ongoing freight rate volatility across major global trade lanes.

Asia-Europe and transpacific container trades face diverging trends in early 2026