Xeneta expects a weaker second half of 2026, with little evidence of a traditional peak season emerging. Middle East premiums remain elevated while capacity and demand normalise, with rates into the region still 47–84 percent above late-February levels. “In all the conversations we’ve had with our shipper community, in only one was there talk of peak seasons charters. Spot rates from Northeast Asia to Europe fell -13% month-on-month, with Southeast Asia to Europe down -9%. Middle East premiums unwind slowlyRates on corridors reshaped by the Middle East conflict remained far above pre-conflict levels.