Container shipping prices from Ho Chi Minh City to the US West Coast rose by more than 26% in just one week, while the Northern Europe route increased by nearly 23%. Why?

According to the latest Vietnam Export Container Freight Market Report by Phaata, an international logistics marketplace, freight rates on multiple routes from Ho Chi Minh City to the US and Europe continued to increase sharply in week 25, from June 15 to 21.

Four long-haul routes peak together

Accordingly, the Ho Chi Minh City - US West Coast route reached 6,013 USD per 40-foot container, up 26.4% compared to the previous week. In just one month, the rate on this route increased by nearly 87%; compared to three months ago, the increase reached over 160%.

Freight from Ho Chi Minh City to Northern Europe increased by 22.7%, to 5,370 USD per container; the Mediterranean route rose by 11.8%, reaching 6,479 USD. All four routes to the US and Europe established their highest levels within 52 weeks.

Developments in the intra-Asia market, however, went in the opposite direction. Freight to Shanghai remained almost unchanged at 139 USD per container, while the Ho Chi Minh City - Busan route decreased by 14.5%, to 320 USD.

The divergence demonstrates that freight rates are not increasing uniformly across market demand but are concentrated on long-haul routes that are bearing pressure from space shortages, itinerary alterations, and congestion at major transshipment points.

For enterprises exporting wood, textiles, footwear, seafood, or agricultural products, price increases of thousands of USD/container can significantly reduce profit margins. The pressure is even greater for contracts with locked-in selling prices but unfixed shipping costs.

Multiple bottlenecks push prices high together

According to Phaata, the demand to bring goods to the US early is rising ahead of changes in import tax policies. Precautionary sentiment prompts many importers to request partners to deliver early, concentrating booking volumes into June and early July 2026.

When vessel capacity is restricted, enterprises not only face high prices but also risk having their cargo rolled over to subsequent voyages. The US East Coast route specifically also bears impacts from congestion at the Panama Canal.

On the European route, the majority of shipping lines still maintain itineraries around the Cape of Good Hope as security risks in the Red Sea have not been cleared. The longer distance increases transit times, fuel costs, and slows down vessel turnaround...

The Phaata marketplace assessed that the current rate plateau is driven up primarily by operational bottlenecks rather than a sustainable increase in demand. Prices may maintain at high levels in the short term but also face a risk of rapid adjustment if one of the bottlenecks is resolved.

Enterprises need to account for late delivery risks

Against a backdrop of continuously volatile freight rates, Mr. Dao Trong Khoa - Chairman of the Vietnam Logistics Business Association (VLA) - argued that enterprises need to separate three factors when deciding on transportation options, encompassing: the operational capacity of the route, the freight rate increase, and the transparency of surcharges.

A route still being operated does not mean the shipping schedule, cargo space, delivery times, and surcharges have stabilized. If relying solely on the fact that shipping lines still accept cargo, enterprises may underestimate the risk of delayed delivery or arising additional costs.

According to Mr. Khoa, enterprises need to build thresholds in advance to switch options, such as expected delay days, surcharge levels, the risk of arising container demurrage and detention fees, insurance conditions, or delivery deadlines.

When one of the thresholds is breached, the department in charge needs to be empowered to switch to other routes, ports, or transport modes, instead of having to wait for prolonged approvals while prices and shipping schedules alter day by day.

Contract clauses related to war, fuel, rerouting, changes of destination ports, warehousing, insurance, embargoes, and force majeure surcharges also need to be reviewed. A lack of clear distinction in responsibility can leave enterprises bearing additional costs when itineraries are adjusted.

What should import-export enterprises note?

Mr. Dao Trong Khoa - Chairman of VLA - noted that enterprises should not merely compare listed freight rates but must calculate the total logistics cost, encompassing transport, surcharges, warehousing, capital tied up in inventory, late delivery risks, contract risks, and the impact on reputation with customers.

Enterprises also need to coordinate more tightly with freight forwarders, third-party logistics providers, and shipping lines.

Mr. Khoa argued that during volatile periods, these suppliers do not merely quote prices but must also support updating risks, advising on alternative routes, and constructing backup plans.

For orders that need to be delivered on time, enterprises can reserve a portion of space in advance to guarantee allocation.

However, when US and Europe freight rates are already in an abnormally high zone, fixing the entire output with long-term contracts can create additional risks if the market turns around.

Source: Tuoi Tre Online