Off-contract container shipping rates from China to the U.S. East Coast have returned to levels seen after COVID-19 disrupted global trade, with fuel costs from the widening Middle East war adding further pressure. Spot rates reached $10,948 per 40-foot container, more than quadrupling since the Iran war began on February 28, according to Xeneta. The route’s record is $11,900, set in January 2022. Bunker fuel, or very low sulphur fuel oil used by many container ships, rose to $901.50 per metric ton from $543.50 on February 27, though it remained below the March 20 peak of $1,053. Peter Sand, Xeneta’s chief analyst, said a new record cannot be ruled out and would most likely come this month as Walmart, Amazon.com and other shippers accelerate exports ahead of China’s early-October Golden Week factory closures. Drewry recorded a nearly 7% weekly increase to $10,394 per 40-foot container and also expects Golden Week shipments to lift rates. Xeneta and Drewry use different methodologies, and their spot-rate measures can apply to around half of cargo on the water.