Valencia Containerised Freight Index

VCFI General

VCFI COMMENTARY AUGUST 2026

The Valencia Containerised Freight Index (VCFI) recorded a monthly fall of 8.67% in August 2026, to stand at 2,734.22 points, albeit maintaining a cumulative increase of 173.42% since the series began in 2018.

This fall contrasts with the increase recorded the previous month (4.19%), linked to the end of the peak season effect, which began in June and continued strongly into July. As the impact of this early demand has subsided, the market has entered a correction phase, although levels remain well above normal, reflecting the volatility and geopolitical and trade uncertainty that continue to characterise the shipping sector.

Looking at the trends by geographical area, the index shows a mixed picture across the regions, with the Western Mediterranean falling by 4.20% in August to stand at 3,583.45 points. Meanwhile, the Far East posted a slight decrease, falling to 2,262.38 points. 

In the economic and trade sphere, the slowdown in growth continues: in its latest update to the World Economic Outlook in July 2026, the IMF projected global growth of 3% for 2026, affected by the conflict in the Middle East but partially offset by the momentum of artificial intelligence, against a backdrop of rising inflation. In the same vein, the UNCTAD report for July–August 2026 confirms this inflationary trend. While overall trade figures are rising, much of this increase is due to higher prices rather than real growth in trade volume.

In the shipping container sector, according to the latest available data for July, the RWI/ISL Container Throughput Index fell slightly by 0.2% to 142.5 points, reflecting a certain slowdown in container traffic volumes, in contrast to the recovery seen in previous months. If we look at the trends by region, we see a similar pattern. Performance varies by region: the Nordrange Index, a key indicator of economic development in the northern part of the eurozone, fell from 119.7 to 119.4 points. At the same time, the Chinese Ports Index has fallen from 159 to 157.3 points.

With regard to maritime transport capacity, Alphaliner recorded an increase in commercial inactivity at the start of the month compared with the previous month. This trend becomes even more pronounced as the month goes on. According to the 12 August report by Alphaliner, the number of inactive vessels stands at 96, equivalent to 296,510 TEU, representing 0.9% of a global fleet of 34 MTEU. There was also an increase in dry-dock capacity, reaching 228 vessels, equivalent to 778,914 TEU. Meanwhile, the number of vessels that have been diverted or are on hold due to the conflict in the Gulf region has continued to fall, down almost 20,000 TEU to stand at 141,740 TEU.

Against this backdrop of supply constraints, port indicators show a mixed picture for the month. Port congestion, as measured by Linerlytica, fell slightly, from 4.04 MTEU (11.8%) in early August to 3.92 MTEU (11.4%) by the end of the month. Anchored vessel volumes, meanwhile, maintained the upward trend, rising from 1,173 units (5.05 MTEU) at the start of the month to a peak of 1,257 (5.40 MTEU) by the middle of the month. Meanwhile, fuel costs showed mixed trends over the course of the month. According to data from Ship&Bunker, VLSFO started the month at $810/mt and closed with a slight increase to $810.50/mt, while IFO380 rose from $620.50/mt at the start of the month to $635/mt at the close. This trend is consistent with the performance of Brent crude, which fluctuated between $88 and $95 per barrel throughout the month, a period characterised by volatility stemming from tensions in the Strait of Hormuz and the conflict between the US and Iran, which prevented prices from easing on a sustained basis during August.

VCFI Western Mediterranean

VCFI Far East