Ocean freight in mid-October 2026: falling rates, partial return through the Red Sea. Should you book now?

The shipping market is sending mixed signals. On one side, freight rates are falling week after week and several lines are returning through the Suez Canal. On the other, the Strait of Hormuz remains closed and attacks have resumed in the Red Sea. Here is our view for a glass importer planning the next containers.

This week’s figures

• Global index down: the Drewry WCI fell 2 % on 8 October, to a global average of 4,351 dollars per 40 ft container.
• Europe and Mediterranean: rates to Northern Europe keep falling, while rates to the Mediterranean are stable.
• Blank sailings: carriers are cancelling sailings to support prices, which can push a booking back by a week.

Red Sea: a partial return

Several major lines have moved some services back to the Suez route, with calls such as Jeddah, Port Said and Tangier. The voyage is shorter than going around Africa. But the return is still partial, service by service, and incidents were again reported in the southern Red Sea in early October. For you, this means transit times can change from one sailing to the next.

What it means for your region

• North Africa and Mediterranean: stable rates and Suez services returning, a good window to book.
• West Africa: these services do not use Suez, but benefit from the general drop in rates.
• Gulf: still heavily disrupted by the Hormuz crisis, with high surcharges. Prefer ports outside the strait.

Our advice: book early, with a firm price

1. If you need glass for November and December, ask for your price now, while rates are low.
2. Have the planned route confirmed, through Suez or around Africa, with the transit time.
3. Group your references in one mixed container to share the freight.
4. Keep a margin on the delivery dates you promise your customers.

Sources: Container News, 12 octobre 2026 · Freightos, 6 octobre 2026 · Maritime Executive