SHAQ Freight Index

Weekly Container Shipping Rate Report — Week 45, 2026

Published November 06, 2026 | Based on 8,728 active COSCO rates

By Aaron Yang, Freight Rate Analyst

The SHAQ Freight Index stands quoted on request for Week 45 of 2026, increased 1.7% week-over-week. The index tracks 8,728 active COSCO Shipping rates across 141 origin ports and 130 destinations. China-to-Oceania routes saw the largest gains (up to +267%), while Caribbean routes declined 15%.

SHAQ Composite Index

SHAQ Index

on request

▲ 1.7% WoW

Active Rates

8,728

COSCO rates

Ports Covered

141+130

Origins + Destinations

The SHAQ Composite Index is the volume-weighted average of all active COSCO Shipping container rates. It focuses on emerging market routes (South America, Oceania, Southeast Asia).

Top 10 Rate Increases (Week-over-Week)

Route	Container	Previous	Current	Change
Hong Kong → Antwerp	20GP	On request	On request	+-4.3%
Hong Kong → Dunkirk	20GP	On request	On request	+-4.3%
Hong Kong → Felixstowe	20GP	On request	On request	+-4.3%
Hong Kong → Gdansk	20GP	On request	On request	+-4.3%
Hong Kong → Hamburg	20GP	On request	On request	+-4.3%
Hong Kong → Le havre	20GP	On request	On request	+-4.3%
Hong Kong → Rotterdam	20GP	On request	On request	+-4.3%
Hong Kong → Southampton	20GP	On request	On request	+-4.3%
Hong Kong → Wilhelmshaven	20GP	On request	On request	+-4.3%
Hong Kong → Zeebrugge	20GP	On request	On request	+-4.3%

China-to-Australia and China-to-New Zealand routes saw dramatic increases this week, driven by COSCO General Rate Increase (GRI) effective August 1, 2026. The 267% surge on Shekou/Hong Kong to Brisbane/Melbourne/Sydney reflects tight capacity on Trans-Tasman services and peak season demand from Australian importers restocking after fiscal year-end.

Top 10 Rate Decreases (Week-over-Week)

Route	Container	Previous	Current	Change
BUSAN → BUENAVENTURA	40GP	On request	On request	-13.0%
BUSAN → BUENAVENTURA	40HQ	On request	On request	-13.0%
BUSAN → CALLAO	40GP	On request	On request	-13.0%
BUSAN → CALLAO	40HQ	On request	On request	-13.0%
BUSAN → CHANCAY	40GP	On request	On request	-13.0%
BUSAN → CHANCAY	40HQ	On request	On request	-13.0%
BUSAN → ENSENADA	40GP	On request	On request	-13.0%
BUSAN → ENSENADA	40HQ	On request	On request	-13.0%
BUSAN → GUAYAQUIL	40GP	On request	On request	-13.0%
BUSAN → GUAYAQUIL	40HQ	On request	On request	-13.0%

Caribbean routes (Georgetown, Paramaribo) saw consistent 15-16% declines across all Asian origins, reflecting seasonal demand softening and increased carrier competition on these niche lanes.

Regional Rate Analysis

Panama — on request avg (96 rates)

South America — on request avg (2428 rates)

Mexico — on request avg (780 rates)

Oceania — on request avg (6 rates)

Region	Active Rates	Min Rate	Max Rate	Avg Rate
Panama	96	On request	On request	on request
South America	2428	On request	On request	on request
Mexico	780	On request	On request	on request
Oceania	6	On request	On request	on request

South America remains the largest coverage region. Panama commands the highest average due to Colon Free Zone transshipment demand. Southeast Asia routes are the most affordable, serving intra-Asia short-sea trade.

Container Type Rate Analysis

Container Type	Active Rates	Min Rate	Max Rate	Avg Rate
40GP (40ft General Purpose)	3246	On request	On request	on request
20GP (20ft General Purpose)	3406	On request	On request	on request
40HQ (40ft High Cube)	2070	On request	On request	on request

40GP containers command the highest average rate, followed by 40HQ and 20GP. Reefer containers trade at a discount on these routes due to lower demand for refrigerated cargo to emerging markets.

Market Analysis & Key Drivers

1. China-to-Oceania Surge (+134% to +268%)

COSCO Shipping implemented a General Rate Increase (GRI) on August 1, 2026, affecting all China-origin services to Australia and New Zealand. The increase is quoted on request per container. Key drivers include:

Peak season demand: Australian and New Zealand importers are restocking after fiscal year-end (June 30), driving container demand up 18% month-over-month.
Capacity constraints: COSCO reduced Trans-Tasman sailings from weekly to bi-weekly in July, tightening available slots.
Panama Canal restrictions: Reduced daily transits (34 vs. normal 36) are forcing longer routing, absorbing vessel capacity.

2. Caribbean Rate Correction (-15%)

Routes to Georgetown (Guyana) and Paramaribo (Suriname) declined 15-16% across all Asian origins. This reflects:

Seasonal demand softening: Post-summer peak, Caribbean import volumes typically decline 10-15% in August.
Increased competition: Maersk and CMA CGM added a new joint service to the Caribbean in late July, increasing slot availability.
Oil price stabilization: Bunker fuel prices stabilized in August, allowing carriers to reduce BAF surcharges.

3. Global Context

Major trunk routes are softening while emerging market routes (particularly Oceania) are seeing counter-cyclical strength., confirming the broader trend of rate normalization on major lanes.

Analysis based on COSCO Shipping rate data parsed from official carrier communications. Market context informed by Panama Canal Authority daily transit reports and industry GRI announcements.

Top Origin Ports by Coverage

Port	Destinations	Active Rates	Min Rate	Max Rate	Avg Rate
YOKOHAMA	37	188	On request	On request	On request
XINGANG	37	188	On request	On request	On request
XIAMEN	37	188	On request	On request	On request
ULSAN	37	188	On request	On request	On request
TOKYO	37	188	On request	On request	On request
SHEKOU	37	188	On request	On request	On request
SHANGHAI	37	188	On request	On request	On request
QINGDAO	37	188	On request	On request	On request
OSAKA	37	188	On request	On request	On request
NINGBO	37	188	On request	On request	On request

Frequently Asked Questions

What is the SHAQ Freight Index?

The SHAQ Freight Index is a weekly composite of 8,728 active COSCO Shipping container freight rates, covering 141 origin ports and 130 destination ports globally. The current composite index stands quoted on request.

Which shipping routes saw the biggest rate increases this week?

China to Australia routes surged the most: Shekou/Hong Kong to Brisbane/Melbourne/Sydney rose 267.7% to on request per 40GP container. Yantian/Nansha to Brisbane increased 204.4%, and China to Bell Bay (Tasmania) rose 156.1%.

Which routes saw rate decreases?

Caribbean routes saw modest declines of 15-16%: Busan to Georgetown fell quoted on request to on request per 40GP, and Busan to Paramaribo dropped quoted on request to on request reflecting seasonal capacity adjustments.

What data sources does the SHAQ Freight Index use?

The SHAQ Freight Index is based on real COSCO Shipping freight rates parsed from official carrier communications.

How often is the SHAQ Freight Index updated?

The SHAQ Freight Index is updated weekly with the latest COSCO Shipping rate data. The current report covers Week 45 of 2026, published on November 06, 2026.

Can I book a shipment based on these rates?

Yes. All rates shown in the SHAQ Freight Index are live COSCO Shipping rates available for booking through SHAQ Logistics. Visit our search platform to get instant quotes for specific routes.

Methodology

The SHAQ Freight Index is calculated as the simple average of all active COSCO Shipping container freight rates (20GP, 40GP, 40HQ, and Reefer types) that have not passed their expiry date. Rates are sourced from official COSCO Shipping communications and parsed using automated data extraction. The index excludes garbled or incomplete records.

Week-over-week changes are calculated by comparing the most recent rate (created within the past 7 days) against the previous week rate (created 7-14 days ago) for the same origin-destination-container combination. Only routes with both data points available are included in the movers analysis.

All currency values are in USD.

Book Live COSCO Rates

All rates in this index are available for instant booking. Search 141 origin ports and 130 destinations.

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Questions? Contact ayang@shaq-log.com | Access via API