Rising Ocean Freight Costs and What Canadian Importers Need to Know

Container Rates Climbing Again

Ocean freight rates continue their upward trend, with the Drewry World Container Index rising to US$2,309 per 40-foot container in early April 2026. For Canadian importers bringing goods through Vancouver, Montreal, or Halifax, this represents another cost pressure on top of already complex landed cost calculations.

The increases aren’t uniform across all routes. Transpacific shipments to North America saw the sharpest jumps, with Shanghai to New York rates climbing seven percent to US$3,671 per FEU, and Shanghai to Los Angeles up nine percent to US$2,910. Even the typically stable Transatlantic route saw Rotterdam to New York rates surge 25 percent to US$1,968.

For importers routing cargo through Canadian ports, these rate fluctuations matter beyond simple freight costs. They affect total landed cost calculations, which in turn impact customs duty assessments and cash flow planning.

Emergency Bunker Surcharges on the Horizon

Maersk has requested U.S. regulatory approval to implement an emergency bunker surcharge without the standard 30-day notice period. The proposed fees are US$200 per TEU for headhaul shipments and US$100 for backhaul dry cargo.

While this specific filing targets U.S. routes, Canadian importers should expect similar surcharges. Ocean carriers typically apply fuel adjustments across North American services when bunker costs spike. The catalyst is ongoing volatility in Middle East oil markets, which supply roughly 20 percent of global petroleum.

These surcharges add another layer to freight invoicing that importers must track carefully. When working with customs brokers, accurate freight cost documentation is essential for CBSA compliance, particularly under the CARM (CBSA Assessment and Revenue Management) system that requires precise commercial invoice matching.

The Strait of Hormuz Factor

A temporary two-week ceasefire in the Strait of Hormuz has allowed some vessel movement to resume, but carriers remain cautious. Ships now need to coordinate transit with Iranian authorities, though clear guidelines and fee structures haven’t been established.

The immediate priority is clearing backlogged vessels already in the Persian Gulf rather than sending new capacity into the region. This cautious approach keeps available shipping capacity tight, supporting elevated freight rates even as some trade lanes see minor corrections.

The disruption to oil flows will take months to normalize fully. Bunker fuel availability constraints are expected to keep freight rates elevated in the near term, meaning Canadian importers should budget for higher ocean freight costs through at least mid-2026.

Capacity Cuts Supporting Rate Levels

Transatlantic capacity contracted 13 percent month-over-month in April, explaining the sharp rate jump on that lane. On Asia-Europe routes, carriers have announced minimal blank sailings, keeping capacity relatively stable. This explains why Shanghai to Rotterdam rates actually declined nine percent to US$2,308 per FEU, while Transpacific and Transatlantic routes climbed.

For Canadian importers, this divergence in rate trends creates both challenges and opportunities. Companies with flexible sourcing may be able to adjust supplier regions or shipping routes to minimize freight costs. However, most importers have limited short-term flexibility given established supply chains and HS classification requirements tied to country of origin.

Impact on Canadian Landed Costs

Freight costs are a direct component of customs value for duty calculation purposes. When ocean freight rates climb 10-25 percent as we’ve seen recently, it flows through to higher duty assessments for goods subject to ad valorem tariffs.

For example, if you’re importing consumer electronics from China subject to a six percent duty rate, a US$500 increase in freight costs per container adds roughly US$30 in additional customs duty. Multiply that across multiple containers and regular import volumes, and the impact becomes significant.

Under CARM, importers must ensure their commercial accounting systems can track and report these freight cost fluctuations accurately. The Financial Security requirements mean errors in declared value can trigger cash flow impacts if CBSA assessments don’t match importer declarations.

Working with experienced freight forwarders who understand Canadian customs requirements helps ensure freight charges are properly documented and allocated across shipments for accurate CBSA reporting.

Planning for Continued Volatility

With geopolitical uncertainty persisting and bunker fuel supplies constrained, Canadian importers should plan for elevated freight costs through at least Q3 2026. This means:

• Building higher freight costs into landed cost calculations and pricing models
• Reviewing payment terms with suppliers to clarify who bears freight surcharge risk
• Ensuring accurate freight cost documentation for CBSA customs value declarations
• Considering advance contracts with carriers where volumes justify it
• Maintaining clear communication between finance, procurement, and customs compliance teams

The current rate environment also makes supply chain efficiency more valuable. Consolidating shipments, optimizing container utilization, and reducing dwell time at ports all help offset higher per-container costs.

Duty Planning Considerations

Beyond freight rates themselves, importers should review their overall duty management strategies. Higher landed costs increase working capital tied up in duty payments, making duty deferral programs and foreign trade zones more attractive.

For goods eligible for tariff relief programs like CUSMA or other free trade agreements, ensuring proper documentation and claims becomes even more important when base costs are rising. A six percent duty saving matters more when the dutiable value base is 10-15 percent higher due to elevated freight.

CBSA’s shift to CARM also means importers need better visibility into total landed costs before goods arrive. The days of correcting customs entries after the fact are largely over, making accurate freight cost forecasting an essential customs compliance activity.

Get Expert Support

Navigating freight rate volatility and its customs implications doesn’t have to be complicated. CanFlow Global helps mid-market importers manage the complete import process, from freight booking through customs clearance and final delivery. Our team stays current on rate trends, CBSA requirements, and CARM compliance obligations so you can focus on your business. Contact us to discuss how we can support your Canadian import operations.

Source: Inside Logistics