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WEEK 25 Global Shipping Market Update

Publish Date: 2026/06/15   Views:

West Africa

Space: Tight
Rate Trend: Rising
Market Update: Driven by the expansion of China-Africa zero-tariff product coverage in late June, cargo volumes are gradually increasing, resulting in tight capacity and rapid space sell-outs. Due to force majeure factors related to regional conflicts, fuel prices have surged again in June, causing freight rates to fluctuate rapidly.
  • CMA CGM: +USD 300/600 in late June
  • MSC: +USD 300/container in the third week of June
  • COSCO: +USD 100/200
Carriers are controlling freight rates through vessel substitutions and prioritizing higher-yield cargo with restricted space allocations. Customers are advised to book space in advance to secure capacity.

East Africa

Space: Tight
Rate Trend: Rising
Market Update: Market cargo volumes continue to grow, while rising bunker surcharges are pushing freight rates higher in line with West Africa. Rates to major ports such as Mombasa, Dar es Salaam, and Beira continue to increase.
Freight rates remain at elevated levels, and vessel space is selling out much faster than before. Due to bunker surcharges and port congestion, inland transshipment across East Africa remains challenging. All inland transit charges are subject to reconfirmation upon cargo arrival.

South Africa

Space: Tight
Rate Trend: Rising
Market Update: South Africa has entered its peak season, with increasing cargo volumes leading to severe space shortages in late June.
  • PIL: +USD 300/600
  • CMA CGM: +USD 300/600
Freight rates for some carriers have exceeded USD 3,000 per container. The availability of 40NOR (Non-Operating Reefer) containers for South Africa exports has increased, offering rates approximately USD 500 lower than standard dry containers. Customers without special loading requirements may consider NOR containers to reduce costs.

Thailand / Vietnam

Space: Stable
Rate Trend: +USD 15–30/TEU
Market Update: Cargo volume on the Thailand-Vietnam trade continues to increase, while capacity supply remains below demand, driving freight rates upward.

Indonesia

Space: +5%
Rate Trend: +USD 25–50/TEU
Market Update: Export cargo volume continues to grow. Space remains relatively tight, and freight rates are expected to maintain an upward trend.

Singapore / Malaysia

Space: +6%
Rate Trend: +USD 25–50/TEU
Market Update: Cargo demand has increased, leading to tighter space availability and continued freight rate growth.

Philippines

Space: Stable
Rate Trend: Stable
Market Update: Capacity supply and export demand have returned to a relatively balanced level. Freight rates remain unchanged from last week.

Japan / Korea

Space: Stable
Rate Trend: Stable
Market Update: Capacity supply remains stable, with no significant change in cargo volume. Current freight rates are expected to remain unchanged.

India

Space: +6%
Rate Trend: -USD 100–200/TEU
Market Update: Vessel schedules are gradually recovering, resulting in increased capacity supply and a moderate decline in freight rates.

Middle East

Space: Tight
Rate Trend: Rising
Market Update: Growing demand, tight capacity, port congestion, equipment shortages, and geopolitical risks continue to support higher freight rates across the region.

Red Sea

Space: Stable
Rate Trend: Stable
Market Update: Freight rates have eased after previous highs, while capacity constraints have improved. Overall market conditions remain stable with limited price fluctuations.
Estimated market levels:
  • Direct Service to Jeddah: approximately USD 5,300/7,100
  • Transshipment Service: approximately USD 4,400/6,300

Australia & New Zealand

Space: Stable
Rate Trend: Rising
Market Update: Capacity on Australia services has gradually recovered. However, cargo backlogs caused by previous capacity reductions continue to impact available space, supporting higher freight rates.
Cargo flow to West Australia remains relatively stable, with balanced supply and demand. Freight rates remain unchanged from last week.

Europe / Mediterranean

Space: Stable
Rate Trend: Rising
Market Update: Export demand to Europe and the Mediterranean continues to increase. Capacity across all major carriers remains tight, with demand exceeding supply, resulting in continued freight rate increases.

U.S. East

Space: Tight
Rate Trend: Rising
Market Update: Freight rates on the U.S. East Coast continue to increase due to port congestion and limited transit efficiency through the Panama Canal.
Several major carriers are maintaining blank sailings and capacity reduction programs, further tightening effective capacity on both U.S. East and U.S. West Coast routes and supporting higher market rates.
Customers are advised to secure bookings well in advance and prioritize express services whenever possible.

U.S. West

Space: Tight
Rate Trend: Rising
Market Update: The overall U.S. and Canada market remains on an upward trend, with vessel space becoming increasingly limited.
Major carriers continue to prioritize long-term contract cargo, making spot bookings more challenging and increasing the risk of cargo rollovers. Freight rates on the U.S. West Coast continue to rise steadily.
Customers are recommended to secure bookings at least 2–3 weeks in advance.

South America West / Mexico

Space: Overbooked
Rate Trend: +USD 1,000/1,000
Market Update: Capacity remains tight, with substantial cargo accumulation in the market. Space-protected shipments require advance confirmation.
Brazil's new tariff policy has triggered a significant shipping rush, particularly for photovoltaic products and electric vehicles, driving freight rates up by as much as 130% in the short term.
Operational updates:
  • COSCO WSA6 has suspended South China calls since May.
  • COSCO WSA3 WK25 OMIT NANSHA.
  • WSA services remain tight on weight allocation; heavy containers require individual approval.

Central American

Space: Overbooked
Rate Trend: +USD 1,000/1,000
Market Update: COSCO has suspended cargo acceptance via Balboa. Shipments destined for PUERTO CALDERA, CORINTO, and SAN LORENZO via Balboa transshipment should be routed via LAZARO instead.
Additional updates:
  • PUERTO CALDERA now supports transshipment via CHANCAY.
  • CORINTO and SAN LORENZO now support transshipment via BUENAVENTURA.

Caribbean / Panama

Space: Overbooked
Rate Trend: +USD 800/800
Market Update: Due to geopolitical factors, COSCO has suspended cargo acceptance via Balboa.
Cargo acceptance remains suspended for:
  • SAN JUAN
  • PORT AU PRINCE
Restrictions for other Caribbean destinations have been lifted.
Due to water restrictions at the Panama Canal, heavy containers still require individual space approval. In addition, COSCO's June CAX1 service is operating with smaller vessels, resulting in tighter capacity. Customers are advised to confirm bookings early.

South America East

Space: Overbooked
Rate Trend: +USD 1,000/1,000
Market Update: Demand continues to rise in June due to tariff policy changes, resulting in tight vessel space. Space-protected shipments require case-by-case confirmation.
Demand for 40NOR containers remains strong, with sufficient equipment availability. Customers seeking NOR-as-dry-container solutions are advised to reserve space in advance.
Additional COSCO updates:
  • ESA service has suspended PNG cargo acceptance due to stowage restrictions; please use ESA2 instead.
  • Cargo acceptance to ROSARIO has been suspended due to feeder service limitations. 


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