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News Information

WEEK 28 Global Shipping Market Update

Publish Date: 2026/07/06   Views:

West Africa

Space: Tight

Market Update: Mid-July West Africa freight rates are gradually easing as carriers struggle to sustain earlier increases. Cargo demand is weakening while capacity is also being reduced; COSCO has blanked two sailings in this co-loading service, and MSC has deployed smaller vessels.Carriers continue to support rates through vessel downsizing and prioritizing high-yield cargo, so freight levels are expected to remain relatively firm, with limited risk of a sharp decline in late July. Shippers are advised to plan ahead to secure space.Mid-July rate adjustment: COSCO -USD 50, CMA/MAERSK stable, MSC -USD 450/box.

East Africa

Space: Tight

Market Update: Cargo volumes are gradually increasing, and freight rates are showing a steady upward trend. Rates for ports such as Mombasa, Dar es Salaam, and Beira continue to rise.

Freight levels remain high compared with previous months, while booking speed has increased significantly, indicating rising export demand. Inland transshipment conditions remain challenging, and all transit pricing must be reconfirmed upon arrival at destination ports.

South Africa

Space: Tight

Market Update: South Africa has entered peak season with increasing cargo volumes. Several blank sailings in July have further tightened capacity, driving freight rates higher.

Some carriers’ 40HQ rates have exceeded USD 4,000. Availability of dry containers (40NOR) on South Africa export routes has increased, offering a pricing advantage—generally around USD 500 lower than standard containers. Shippers without special loading requirements may consider dry containers to reduce costs.

Thailand & Vietnam

Space: +3%

Rate Trend: -USD 15–30/TEU

Market Update: Cargo demand remains stable without major changes. Export demand is weakening slightly, leading to mild rate decreases.

Indonesia

Space: +5%

Rate Trend: -USD 25–50/TEU

Market Update: Due to destination customs policy impacts, export volumes have declined, resulting in increased space availability and downward pressure on rates.

Singapore & Malaysia

Space: +3%

Rate Trend: -USD 15–30/TEU

Market Update: Reduced China–India cargo flow has increased space availability, leading to slight rate declines.

Philippines

Space: Stable

Rate Trend: Stable

Market Update: Cargo demand and space supply remain balanced, with rates largely unchanged.

Japan / South Korea

Space: -2%

Rate Trend: Stable

Market Update: Export volumes remain stable, with supply and demand relatively balanced. Freight rates remain steady.

India

Space: +3%

Rate Trend: -USD 50–100/TEU

Market Update: No significant increase in cargo demand. Carrier capacity remains sufficient, leading to further downward adjustments in rates.

Middle East

Space: Ample

Rate Trend: Declined

Market Update: Increasing direct service capacity to Khor Fakkan and Sohar has led to notable rate reductions on direct services, while transshipment routes remain relatively stable.

KL–Khor Fakkan rates are currently around 3000/3400.

Red Sea

Space: Tight

Rate Trend: Stable

Market Update: Severe congestion at Jeddah has led to frequent carrier omissions and vessel rerouting. Rates to Jeddah remain high, while Sohar and Aqaba have seen slight decreases of around USD 200/200.

Estimated levels:
  • Direct services to Jeddah: ~5300/7300
  • Transshipment services: ~4400/6300

Australia / New Zealand

Rate Trend: Stable

Space: Stable

Market Update: Cargo volumes have declined slightly, and previously accumulated backlog has been absorbed. Rates remain at elevated but stable levels. Supply-demand balance remains steady, though transshipment congestion continues to impact transit times.

Europe / Mediterranean

Rate Trend: Declined

Space: Increase

Market Update: Week 2 of July: Space availability eased, Europe-bound rates declined slightly, while capacity is expected to remain tight through the second half of the month as the peak season approaches.

US West Coast

Rate Trend: Slight decline

Market Update: Recent rate increases were driven by multiple factors, including early peak season demand, pre-tariff front-loading, and carrier capacity control.

Additional peak season surcharges (PSS) imposed on US and Canada routes have also increased booking costs. While the overall market remains firm, pricing has become more differentiated. With additional extra loaders deployed, some carriers have started to slightly reduce spot rates (by USD 150–200) to attract cargo, resulting in higher rate volatility.

US East Coast

Rate Trend: Remains high

Market Update: The SCFI level reached USD 7,384 (following three consecutive declines). Although GRI levels were announced at USD 9,000, actual market transaction levels were around USD 7,000–7,500.

Front-loading demand at the end of June has largely been released. Carriers continue to implement blank sailings and capacity control strategies to support rates. Multiple blank sailings on Transpacific services (OA Alliance) further tighten effective capacity, keeping space under pressure.

South West America / Mexico

Spaces Availability: Tight
Rate Trend: Reduced by USD 400/400
Market Information: Capacity remains tight due to heavy cargo stockpiling. COSCO will suspend South China calls on the WSA6 service starting from May.WSA3 Week 29 adds Ensenada call / WSA5 WK28 OMIT BUN GYE CXF.WSA space has been tight recently, and heavy containers require separate confirmation.

Central American

Spaces Availability: Tight
Rate Trend: Reduced by USD 400/400
Market Information: COSCO: Cargo to Balboa temporarily suspended. Cargo via Balboa to Central America (PUERTO CALDERA / CORINTO / SAN LORENZO) should be rerouted via Lazaro.
CORINTO/SAN LORENZO will add transshipment via BUENAVENTURA.

Caribbean / Panama

Spaces Availability: Overbooked
Rate Trend: Stable
Market Information:  Due to geopolitical risks, Balboa-bound cargo remains suspended.
In the Caribbean region, cargo acceptance to SAN JUAN and PORT AU PRINCE remains suspended, while loading restrictions for other ports have been lifted.
Space protection customers: Confirm in advance.

South America East

Spaces Availability: Ample
Rate Trend: Reduced by USD 1000/1000
Market Information:  Due to tariff policy impacts in July, demand has surged and space remains tight. Space protection is subject to case-by-case confirmation.
40NOR demand strong; space and equipment available — cold-to-dry cargo can be reserved in advance.
COSCO: ROSARIO suspended due to feeder issues.
RIO DE JANEIRO: Port omission and Singapore transshipment rollover risk.


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