European Container Shipping: Container quotes continue to rise

Research evidence excerpt

European Container Shipping: Container quotes continue to rise

Global Research

24 June 2026ab

European Container Shipping Equities

Europe Ex. UKContainer quotes continue to rise

Marine Transport

Cristian Nedelcu, CFA

Ocean quotes are up for departures over the next 7 days for the main East-West Analyst

routes cristian.nedelcu@ubs.com

Our quote collection this week shows further rate increases for departures over the next +44-20-7568 4375

7 days following the ~5% w/w increase in the SCFI last week. Since the start of the Samuel Goldstone

Middle East conflict we have now seen spot rates rise >130%, with our quote collection Associate Analyst

this week implying further upside to this number. We estimate that bunker surcharges samuel.goldstone@ubs.com

have contributed to ~$150/TEU of price increases, with the remaining ~$1,800/TEU +44-20-7567 0338

increase in global container rates likely driven by supply and demand imbalances Robin Xu

following the peak season demand pull-forward (Figure 6Weestimatethatbunkercostsareup~$20/TEUsincethestartoftheHormuzclosurevs.increasesintheSCFIof~$1,50/TEU). Analyst

S1460511010012

bin.xu@ubs.com

The main debate currently is around the sustainability of the strength of ocean demand/

+86-21-3866 8872

upwards pressure on rates. Historically the peak ocean rates were reached on most

occasions between July-Sept. At one end there is the view that we have seen front Thomas Wadewitz

Analystloading pulling some peak volumes earlier in the year. There are several references in the

thomas.wadewitz@ubs.com

flash manufacturing PMIs US/Europe this week to front loading. Furthermore we note +1-212-713 6116

for the first time over recent weeks we are hearing about discounts offered by the

carriers on Asia-USWC (see below).