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Container pricing started 2026 with a familiar pattern: a pre Lunar New Year lift in early January, then a multi week cooling into mid February. The latest reads show Drewry WCI at $1,933 per 40ft (Feb 12), Freightos FBX Global around $1,936.60, and SCFI at 1,251.46 (Feb 13), while container time charter indicators like New ConTex (1491 points) remain more stable than spot.
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2026 index story so far, one read
The main container spot indices are pointing to a cooling market into mid-February after early January strength. Drewry’s World Container Index printed at $1,933 per 40ft on February 12, while Freightos’ global FBX reading is around $1,936.60. Shanghai’s export spot thermometer, the SCFI, shows 1,251.46 points on February 13, with the broader China export CCFI at 1,088.14 points on the same date.
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Spot side
Recent index notes describe multiple consecutive weeks of easing in WCI and continued declines in Shanghai-linked spot measures, consistent with post-holiday normalization and softer near-term demand. -
Capacity control
Drewry referenced a higher-than-usual wave of blank sailings in the near-term schedule, which signals active attempts to manage effective capacity during the soft patch. -
Charter side
Time charter benchmarks look steadier: New ConTex is shown at 1491 points in early February updates, while HARPEX prints 2,191 on February 13, reflecting assessed charter conditions by vessel class.
For maritime pricing watchers, the key 2026 setup is a two-speed read: spot indices can reprice quickly around demand rhythm and blank sailings, while charter benchmarks move more slowly. The realistic watch list is capacity discipline, routing decisions, and how demand growth compares with fleet growth through the year.
| Index to watch | Latest print | 2026 shape so far | Moving | Read-through for maritime |
|---|---|---|---|---|
| Drewry World Container Index (WCI) |
$1,933 per 40ft (Feb 12)
Reported 1% down week on week, fifth weekly decline.
|
Early January strength into February softening.
Recent weeks have been a steady grind lower rather than a one-week break.
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Lower pre-holiday cargo volumes and capacity actions.
Drewry referenced 57 blank sailings over the next two weeks on Transpacific East and West Coast lanes.
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Lane pricing for BCOs and forwarders, plus carrier revenue tone and near-term capacity discipline headlines. |
| Freightos Baltic Index (FBX) Global |
$1,936.60 (current global reading)
Freightos weekly commentary also flagged sharp drops on key fronthaul lanes in early February.
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Pre-LNY lift, then rapid cool-down on several routes.
The pace of decline has been notable on Asia to US and Asia to Europe lanes in weekly updates.
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Lane-level resets after the early January rush, plus blanking and schedule control attempts.
Example in Freightos update: Asia-USWC and Asia-USEC were both described as lower week on week.
|
A fast read on spot market clearing prices across core corridors, useful for daily procurement and index-linked discussions. |
| Shanghai Containerized Freight Index (SCFI) |
1,251.46 points (Feb 13)
Market coverage described multiple consecutive weekly declines.
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Softer trend into mid-February, consistent with broader spot indices.
SCFI is often watched as a Shanghai export spot thermometer.
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Weaker spot demand into key trades post rush.
Industry reporting noted ongoing week-to-week decreases on SCFI in February.
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Spot pricing pulse for exports leaving Shanghai, and an input for corridor narratives and derivative discussions tied to Shanghai-linked indices. |
| China Containerized Freight Index (CCFI) |
1,088.14 points (Feb 13)
Week-on-week decline shown alongside SCFI in public data dashboards.
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Moves have tracked the broader cooling in February.
CCFI captures a wider China export basket than Shanghai-only measures.
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Broad China export pricing pressure as spot legs soften.
Useful paired with SCFI for Shanghai vs broader China contrast.
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A broader export rate indicator that helps triangulate whether the softening is Shanghai-specific or more general across China load ports. |
| New ConTex (container time charter assessment) |
1491 points (Week 06 update published Feb 6)
VHBS described a stabilizing tone in early February.
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More stable than spot indices.
Time charter benchmarks tend to lag and smooth spot volatility.
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Balance between demand and available tonnage in the charter market.
Commentary frames it as relatively steady vs the spot freight slide.
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Charter market tone for container tonnage, often watched for longer-horizon earnings expectations versus spot freight prints. |
| HARPEX (charter rates index, Harper Petersen) |
2,191 (Feb 13 reading shown on Harper Petersen table)
Published alongside assessed time charter rate brackets by vessel size.
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A steadier trend indicator for charter pricing, segment by segment.
Useful to compare charter stickiness versus spot freight volatility.
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Fixture reality and assessed expectations for 6–12 month periods across ship sizes.
Most sensitive where open tonnage and demand meet in mid-size segments.
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Charter market direction for owners and charterers, plus a cross-check against spot freight when the two diverge. |
Across the main spot trackers, the near-term story is downshifting into mid-February after the early January lift. Drewry also flagged elevated blank sailings in the near-term pipeline, a sign carriers are actively trying to control effective capacity.
A realistic near-term base case is continued volatility around capacity actions (blank sailings) and post-holiday normalization, with the bigger 2026 question centered on demand growth versus fleet growth and routing decisions.
Public outlook work from market analysts has pointed to a 2026 backdrop where demand growth is modest and fleet growth is also meaningful, which tends to keep a lid on sustained spot rallies unless capacity is tightly managed or routing adds distance. One published view forecasts about 3% demand growth in 2026 versus about 3.6% fleet growth, which sets up a year where discipline and disruptions can matter as much as macro demand.
This compares the latest public prints you input and returns simple spreads. It does not model contract terms, surcharges, or corridor-specific rate structures.
This year’s index tape is showing a market that can still reprice quickly, but not always in the same direction across spot and charter benchmarks. The next checkpoints are whether post-holiday softness persists into March, how blank sailings and capacity management evolve, and whether routing and port congestion add back “hidden” capacity absorption. Disclaimer: these indices are published snapshots with different methodologies and revision practices, and any outlook is informational only, not investment, trading, or financial advice.
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