CN Index Shows High Pressure as Freight Rates Continue to Ease

The CN Index declined to 540 this week, signaling that global container shipping remains under High Pressure, although conditions are gradually stabilizing. The latest reading reflects softer freight rates across several key East–West trade lanes, while geopolitical and operational risks continue to provide a structural floor for the market.

Freight Rates Move Lower Across Major Corridors

Pricing on the main intercontinental routes continued to ease. Rates on the Asia–USEC and Asia–USWC corridors declined week on week, suggesting improved capacity availability and moderating demand momentum. Despite this downward movement, rate levels remain above long-term historical averages, indicating that structural tightness has not fully dissipated.

The Far East–North Europe trade lane also recorded a softer reading, reinforcing the broader cooling trend across Asia–Europe services. Meanwhile, rates connecting Asia with the South American East Coast showed relative stability, highlighting uneven adjustments across secondary intercontinental routes. Trans-Atlantic westbound pricing remained mixed, reflecting shifting demand conditions between Europe and North America.

Regional trades largely followed the broader pattern of gradual easing. Intra-Asia rates edged lower, while Mediterranean and Persian Gulf routes continued to operate at moderate pressure levels. Lower-volume regional routes, including parts of Africa and Australasia, remain subdued but continue to trade above pre-disruption benchmarks.

Geopolitical Risk Remains Elevated

Geopolitical and operational risks remain broadly unchanged. The Red Sea continues to represent the most significant maritime risk, with security concerns still influencing routing strategies and cost structures. Trade and sanctions-related constraints remain elevated, adding compliance complexity and maintaining risk premiums across multiple trade lanes.

Elsewhere, moderate risk levels persist in the Black Sea, Gulf of Guinea, and Gulf of Aden, while major chokepoints such as the Panama Canal and Suez Canal continue to operate normally.

What the CN Index Is Indicating

At 540, the CN Index suggests that global container shipping pressure is easing incrementally but remains firmly in high territory. Freight rates are softening, yet capacity discipline and geopolitical uncertainty continue to limit downside. The current trajectory points to gradual normalization rather than a rapid correction in market conditions.

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