Container shipping trades linking Asia, Europe and the United States showed mixed performance during the first months of 2026, as weakening transpacific demand contrasted with resilient Asia-Europe cargo volumes and continued freight rate volatility, according to the latest data released by the Japan Maritime Center.
On the transpacific route, container volumes from Asia to the United States declined significantly in April. Total exports from 18 Asian economies to the US fell 8.8% year-on-year to 1.66 million TEU, while cumulative volumes during the first four months of 2026 dropped 6.3% compared to the same period last year.
China remained the largest exporting country on the route despite a sharp contraction. Chinese exports to the US declined 17.5% year-on-year to 749,721 TEU in April, while exports from India fell 22.9%. Taiwan also recorded an 11% decline. In contrast, Southeast Asia continued to gain market share, with ASEAN exports increasing 6.9% to 575,782 TEU. Thailand posted particularly strong growth of 23.3%, while Cambodia surged 48.5%.
The slowdown in transpacific cargo volumes was reflected across several major commodity categories. Furniture and bedding shipments fell 12.7%, machinery cargo dropped 10.8%, textiles declined 15.3%, and electrical equipment cargo volumes decreased 15.4%.
At the same time, freight rates on the Asia-US trade lane remained volatile. Shanghai–Los Angeles spot rates in April stood at 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 US East Coast saw even stronger pricing momentum, with Yokohama–New York 40-foot rates rising 33.5% year-on-year to USD 6,224.
Meanwhile, the Asia-Europe trade demonstrated stronger cargo resilience. Container volumes from Asia to Europe increased 1.7% year-on-year in March to 1.64 million TEU, while first-quarter volumes surged 15% to 5.18 million TEU.
China continued to dominate Asia-Europe exports, accounting for more than 75% of total shipments on the route. Southeast Asia also strengthened its position with a 7.1% increase in cargo volumes. Northern Europe remained the largest destination region, receiving more than 60% of total Asian exports to Europe.
Return cargo from Europe to Asia, however, remained weaker. European exports to Asia declined 0.4% year-on-year in March, while cumulative first-quarter volumes dropped 3.3%. Northern Europe accounted for nearly 68% of outbound European cargo.
Freight rates on the Asia-Europe trade showed signs of stabilisation after the sharp corrections recorded throughout 2025. Shanghai–Rotterdam 40-foot rates reached USD 2,941 in March, while Shanghai–Genoa rates stood at USD 3,548. Cargo from Yokohama to Rotterdam recorded a year-on-year decline, although rates improved sequentially during the first quarter.
The latest China Containerized Freight Index (CCFI) data also pointed to continued weakness on the US trades compared to the previous year. In early 2026, both US West Coast and East Coast indices remained well below 2025 levels despite modest recovery signs in April.
In intra-Asia trade, container cargo between Japan and China delivered mixed results. Japanese exports to China increased 9.1% year-on-year in March to 763,000 tonnes, supported by strong shipments of machinery, copper products and chemicals. Trade value jumped 22.5% to more than JPY 1 trillion.
On the return leg, Chinese exports to Japan declined 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 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.
Overall, the latest market data highlights an increasingly fragmented container shipping environment in 2026, shaped by shifting sourcing patterns, softer US demand, resilient Asia-Europe trade flows and ongoing freight rate volatility across major global trade lanes.
