Container shipping markets opened 2026 with significantly higher spot rates from East Asia to US East Coast, even as US container imports ended 2025 slightly below 2024. Early January updates from major carriers show service adjustments and limited idling of container ships as they create tight yet reshaping capacity landscape.
Mediterranean Shipping Company implemented several freight rate increases on key routes between Far East, Europe, Africa and beyond since December 2025, taking effect December 1. These updates included service enhancements such as faster transit times on Western Cape Express and new port calls; as well as surcharges due to high demand and regulations. These moves reflect market pressures as well as operational adjustments.
Pharos Offshore Group Ltd has bolstered its subsea trenching capability with the addition of the UTV620 jet trencher (formerly the CT1) from SMD as it seeks to capitalise on growing demand across offshore wind, telecoms and energy markets. "This acquisition forms part of our ambitious growth plans for Pharos, and we see this as a necessary step to deliver that growth," said Pharos’ management. "Pharos' existing trenching and seabed intervention assets are complementary to this initiative. This acquisition is critical as we look to scale up our subsea trenching capabilities within these markets as Pharos deploys its first UTV620 under our banner by December 2025.”
Mediterranean Shipping Company hit unprecedented milestone in November 2025, with capacity of 7 million TEU, first carrier to reach this mark. Expansion followed acquisition of 470 pre-owned vessels but, due to security issues and fuel shortages suspended Mali services temporarily; December freight rates show significant increases across all major base trade lanes.