Ocean Freight Rates in Europe: Insights from Andrea Monti, CEO of SOGESE
Falling freight rates, shifting trade routes, and a European market struggling to recover. What lies ahead for container shipping in 2027?
Andrea Monti, CEO of SOGESE, shares his insights in an interview with Blueconomy, a publication specialising in the maritime economy, discussing the key trends reshaping the global shipping industry.
Falling Freight Rates: Opportunity or Warning Sign?
The maritime transport industry is undergoing significant changes. On Asia–Europe trade routes, downward pressure on freight rates is not necessarily good news.
As Andrea Monti points out, lower freight rates may reflect weak European demand, which is struggling to absorb the available shipping capacity.
The comparison with the United States is particularly revealing: while the US market has benefited from front-loaded imports, Europe continues to face sluggish industrial growth.
Could the Return to the Suez Canal Push Freight Rates Even Lower?
The gradual resumption of shipping services through the Suez Canal is one of the main factors expected to influence the market.
During the Red Sea crisis, many shipping companies rerouted their vessels around Africa, increasing transit times and tying up additional capacity.
A return to the shorter route could release further shipping capacity, putting additional downward pressure on freight rates.
According to SOGESE estimates reported by Blueconomy, traffic through the Suez Canal and Bab el-Mandeb was still at approximately 40–50% of pre-crisis levels, while freight rates had already fallen by an estimated 20% compared with August 2026.
This highlights just how sensitive the market can be to relatively small changes in available capacity.
Genoa and Rotterdam: What Do Freight Rates Reveal?
Another significant development is the narrowing gap between freight rates to Genoa and Rotterdam.
According to the CEO of SOGESE, this does not necessarily indicate that Italian ports have become more competitive. It may instead reflect shipping capacity exceeding actual market demand.
True competitiveness is not measured by freight rates alone, but by the efficiency of the entire supply chain, from port connections to final cargo distribution.
Shipping Outlook 2027: What’s Next for Europe?
Looking ahead to 2027, three key factors could shape the market:
- Shipping routes: A more substantial return to the Suez Canal could increase available capacity.
- European economy: A recovery in industrial production would be essential to support transport demand.
- Shipping lines’ strategies: Capacity management and sailing schedules will continue to influence freight rates.
Market volatility remains high, and temporary rate increases cannot be ruled out. However, without a meaningful recovery in European demand, freight rates could remain under downward pressure.
SOGESE: Understanding the Market to Anticipate Change
Since 1980, SOGESE has operated in the container industry, specialising in the sale, rental, management, and modification of containers for logistics and industrial applications.
Monitoring and analysing international markets is an important part of this expertise.
The insights shared by Andrea Monti, CEO of SOGESE, in his interview with Blueconomy highlight a fundamental principle: understanding the future of shipping requires looking beyond freight rates and examining the real economy, geopolitical developments, and the evolution of global supply chains.
An essential perspective for companies operating in international trade.
Read the full interview with Andrea Monti on Blueconomy (in Italian):
Monti (SOGESE): Without Expansionary Policies, European Freight Rates Are Set to Fall Further
