As the Trans-Pacific trade lane enters the traditional peak shipping season, the upward trend in US-bound freight rates continues. Following its previously announced General Rate Increase (GRI), COSCO Shipping Lines has now issued a further notice that it will levy a Peak Season Surcharge (PSS) effective 15 June, adding to transport costs on routes from the Far East to the United States and Canada.

Industry insiders say that against a backdrop of steadily growing cargo volumes, tight space supply, and carriers' continued capacity control to stabilise rates, the rate uptrend on US‑Canada routes remains intact, and the market widely expects a new high for the year to be reached in July.

According to COSCO's latest announcement, during the period 15 June to 30 June 2026, the company will impose a Peak Season Surcharge (PSS) on cargo shipped from the Far East, Oceania, the Indian subcontinent and the Middle East to the United States and Canada.

The specific PSS rates are as follows:

• 20GP (20ft standard container): US$1,600 per container

• 40GP (40ft standard container): US$2,000 per container

• 40HQ (40ft high cube container): US$2,000 per container

• 45HQ (45ft high cube container): US$2,532 per container

PSS (Peak Season Surcharge) is a temporary charge imposed by carriers during periods of concentrated demand growth and space tightness, intended to alleviate pressure on transport capacity during the peak season.