Company News

By Paris Tsirigotis

The Port of Piraeus continues to show resilience in container handling amid trade disruptions linked to tensions in the Middle East.

At the same time, spot container freight rates have increased for a third consecutive week, driven by seasonal demand. More specifically, a mild upward trend was recorded in April at Terminals II and III of the Piraeus Container Terminal, with throughput increasing by approximately 2,000 TEUs compared to the same month last year.

According to data from Cosco Shipping Ports, monthly throughput rose by 0.6%, while a 4.2% decline was recorded over the four-month period.

In particular, 320,000 containers were handled in April this year, compared to 318,000 in the same month last year. In January¨CApril 2026, throughput amounted to 1.281 million containers, compared to 1.337 million TEUs in the same period last year, marking a decline of 4.2%.

The Cosco Group

The Cosco Group is also recording strong performance at a global level.

Cosco Shipping Ports posted a 7.2% increase in total container throughput across its portfolio of 38 ports worldwide in April, with volumes reaching 10.2 million TEUs, compared to 9.5 million in April 2025.

This upward trend is also confirmed in the January¨CApril period, during which 39.9 million TEUs were handled, representing an 8.5% increase compared to 36.7 million TEUs in the corresponding period last year.

Further Increase in Freight Rates

The spot market has seen a rise in container freight rates for a third consecutive week this month, driven by early peak-season demand as well as higher FAK (Freight All Kinds) levels, i.e., the uniform rates applied by shipping companies for transporting different types of cargo regardless of container contents.

The Drewry World Container Index (WCI), which tracks spot container freight rates, increased by 6% to USD 2,712 per 40-foot container, primarily due to a significant rise in Asia¨CEurope routes.

In particular, spot rates from Shanghai to Rotterdam rose by 15% to USD 2,773 per FEU (Forty-foot Equivalent Unit), while the Shanghai¨CGenoa route recorded a 10% increase, reaching USD 4,082 per FEU.

Upward trends are also observed on Transpacific routes, albeit at a more moderate pace.

Spot rates from Shanghai to New York increased by 2%, reaching USD 4,317 per 40-foot container, while the Shanghai¨CLos Angeles route rose by 1% to USD 3,385 per FEU.

Major shipping lines are already implementing further rate increases in an effort to capitalize on improved demand.

CMA CGM announced higher FAK levels effective 1 June, with Asia¨CNorthern Europe rates approaching USD 4,700 per FEU and Asia¨CMediterranean rates ranging from USD 5,500 to USD 5,700.

Ocean Network Express imposed a Peak Season Surcharge of USD 2,000 per FEU for shipments to the US East Coast effective June 1.