NOTE: quotes and insight from Xeneta Chief Analyst Peter Sand follow the data highlights below.
Data highlights
Market average spot rates – 27 November 2025:
Offered capacity (4 week rolling average) – w/c 24 November 2025:
Xeneta analyst insight
Peter Sand, Xeneta Chief Analyst:
“Carriers are working hard to manage capacity and they are having some success when you consider average spot rates are up on all major fronthauls compared to first half of October, despite considerable decreases on Far East to US trades in November.
“Whether it is year-end market sentiment heading into tender season or a semblance of underlying demand, it is a strong finish to the year for carriers and provides much-needed momentum for them heading into what will be an extremely challenging 2026.
“There is ongoing speculation of a largescale return of container ships to the Red Sea, but the situation remains fragile. Carriers will continue to test the water – particularly on backhaul services with less cargo and therefore lower liability – but insurance remains a major stumbling block when ships are still sailing through an area designated as high risk.”
Source: Xeneta
