Container throughput at the Port of Piraeus rose by 2.8% in May, reaching 347,000 TEUs across Piers II and III, according to data released by COSCO Shipping Ports — the majority shareholder and operator of the port’s container terminals.
Mixed Performance in First Five Months of 2026
The overall picture remains mixed: May marked the second consecutive monthly increase in 2026 and delivered the strongest single-month performance in the past 12 months. However, total throughput for the January–May period stood at 1.628 million TEUs — down 2.8% compared to 1.674 million TEUs recorded in the same period last year. Despite recent gains, the five-month figure remains below 2025 levels.
Potential Suez Canal Return Boosts Piraeus Outlook
Industry analysts suggest that a gradual de-escalation of tensions in the Middle East could pave the way for more vessels returning to the Suez Canal route. Such a shift would reinforce Piraeus’ role as a key transshipment hub in the Eastern Mediterranean.
In line with this, Maersk confirmed to the Athens News Agency (ANA) that some of its vessels have already transited the Strait of Hormuz without incident following security assessments. The company is also evaluating conditional resumptions of previously suspended services.
Global Container Freight Rates Climb Sharply
International container freight rates are rising steadily. The Drewry World Container Index climbed 5% to $4,166 per 40-foot container — its highest level since September 2024.
The steepest increases were seen on Asia–U.S. routes: Shanghai–New York rose 6%, while Shanghai–Los Angeles surged 12%, driven by strong demand and tight vessel capacity.
Pressure Mounts on Asia–Europe Routes
Rates on Asia–Europe services remain elevated and stable, with limited schedule cancellations keeping available capacity low. New General Rate Increases (GRIs) and Peak Season Surcharges (PSS) are scheduled to take effect from 1 July.
CMA CGM has already announced revised freight rates for Asia-to-Europe and Asia-to-Mediterranean services. Drewry expects the upward trend in freight costs to continue over the coming weeks.