July 5, 2026
Container shipping is entering July with spot rates climbing hard on the main US import lanes, an early peak season pulling volumes forward ahead of a looming tariff deadline, and carriers rolling out fresh surcharges. Here’s what US shippers need to know today.
Rates
Transpacific spot rates surge on early peak season
Drewry’s World Container Index jumped 9% to $4,530 per 40ft container in its latest reading, with transpacific spot rates now near $6,200/FEU to the US West Coast (up roughly 120% since mid-May) and about $8,000/FEU to the East Coast. The main driver is surging early-peak-season demand rather than fuel costs, and analysts expect further increases before any unwind. (Freightos, Drewry)
Carriers pile on July peak-season surcharges
CMA CGM has announced a $4,000/FEU peak-season surcharge on all transpacific boxes from July 10, and HMM is adding a $3,000 per 40ft surcharge from July 15 — a direct hit to US importers already absorbing higher base rates. (SeaRates)
Ports & Infrastructure
West Coast braces for a cargo comeback
The Port of Los Angeles moved 840,165 TEU in May, up 17% year over year, and West Coast hubs are bracing for more volume as shippers front-load — reviving congestion concerns even as dwell times remain manageable at 3–4 days. (gCaptain)
Panama Canal tightens draft limits
The Panama Canal Authority cut the maximum allowable draft in the Neopanamax locks to 49.5 feet effective July 1, adding another capacity constraint on all-water services to the US East and Gulf coasts as Red Sea/Suez transit remains disrupted. (Kisun Shipping)
Carriers
Maersk, Hapag-Lloyd and CMA CGM clear the Strait of Hormuz
After months of Persian Gulf disruption, the major carriers confirmed successful Strait of Hormuz transits following a US-Iran ceasefire window — a step toward normalizing a corridor whose closure had rippled into global schedules and rates. (WorldCargo News)
MSC bats down Hapag-Lloyd stake talk
MSC has denied reports it is seeking a stake in Hapag-Lloyd, calling the claim untrue, while Hapag-Lloyd’s separate merger with ZIM remains on track to close in Q4 — moves that will reshape the carrier landscape serving US trades. (IndexBox)
Policy
Tariff calendar drives the front-loading rush
A packed US trade-policy month is fueling the early peak: a Section 301 public hearing is set for July 7, and the Article 122 global additional tariffs are slated to expire July 24. The uncertainty is pushing importers to pull volume forward now. (Dimerco)
Bottom line: US importers face rising transpacific rates and new July surcharges as an early, tariff-driven peak season collides with tightening canal and port capacity — locking in freight now looks smarter than waiting.