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News Information

WEEK 29 Global Shipping Market Update

Publish Date: 2026/07/13   Views:

West Africa

Space: Tight
Rate Trend: Decrease
Market Update: In mid-July, West Africa freight rates are gradually declining, and major carriers are no longer able to maintain previous rate increases. Market cargo volume has decreased, while capacity has also been reduced.
Carriers are expected to continue controlling capacity through measures such as vessel changes and restricting space allocation to prioritize higher-yield cargo on Red Sea services, in order to maintain freight rates at relatively high levels. A significant rate reduction is unlikely in late July.
Shippers are advised to arrange bookings in advance according to their shipment plans to secure available space.
In mid-July, COSCO reduced rates by USD 30, CMA reduced rates by USD 50/200, MSK maintained current levels, and MSC reduced rates by USD 200/300 per container.

East Africa

Space: Tight
Rate Trend: Stable at high levels
Market Update: Freight rates remain stable at high levels, while space is being sold significantly faster, indicating that export demand remains strong and continues to increase.
BEIRA is currently experiencing severe port congestion, with delays exceeding one month. Combined with several blank sailings recently implemented on East Africa services, available capacity has become increasingly tight.
Major carriers have introduced port congestion surcharges, including CMA at USD 500 and MSC at USD 800.
The inland transportation situation in East Africa remains challenging. All inland transit rates need to be reconfirmed after cargo arrival.

South Africa

Space: Tight
Rate Trend: Increase
Market Update: South Africa has entered the peak season, with increased cargo volumes and several blank sailings in July, resulting in tight capacity and higher freight rates.
Carriers are increasing the use of dry reefer containers and 40NOR equipment for South Africa exports. These options are generally around USD 500 lower than standard dry containers. Customers without special container requirements may consider using dry reefer equipment to reduce transportation costs.

Thailand / Vietnam

Space: +5%
Rate Trend: Decrease by USD 15–30/TEU
Market Update: Export demand on the Thailand/Vietnam route has weakened. With sufficient space supply, market rates are expected to continue decreasing.

Indonesia

Space: Stable
Rate Trend: Decrease by USD 25–50/TEU
Market Update: The Indonesia route continues to be affected by destination customs clearance issues. Export demand has declined while capacity remains sufficient, resulting in further rate reductions.

Singapore / Malaysia

Space: +3%
Rate Trend: Decrease by USD 15–30/TEU
Market Update: Export demand on the Singapore/Malaysia route remains stable. With sufficient space availability, market rates are expected to decrease slightly.

Philippines

Space:  +5%
Rate Trend: Stable
Market Update: Cargo volume remains stable on the Philippines route. Supply and demand are relatively balanced, and market rates are expected to remain unchanged.

Japan / Korea

Space: Stable
Rate Trend: Stable
Market Update: Cargo flows remain stable with no significant changes. Space availability is sufficient, and market rates are expected to remain unchanged.

India

Space: Stable
Rate Trend: Decrease by USD 50–100/TEU
Market Update: Export demand on the India route continues to weaken. With supply exceeding demand, freight rates are expected to decrease further.

Middle East

Space: Tight WK29–30
Rate Trend: Increase
Market Update: The US-Iran situation remains unstable, and transit through the Strait of Hormuz continues to face disruptions. Capacity is expected to decrease in late July, with freight rates likely to increase slightly by around USD 300/300.

Red Sea

Space: Tight WK29–30
Rate Trend: Increase
Market Update: Congestion at JEDDAH continues. Carriers have started adjusting port rotation strategies. JEDDAH single-port rates have increased slightly, while rates for SOKHNA and AQABA remain stable.

Australia / New Zealand

Space: Increase
Rate Trend: Decrease
Market Update: Export cargo volume to Australia continues to decline. Space availability has increased compared with previous weeks, and market rates have started to decrease, although rates remain at relatively high levels.The Australia West Coast market has not been significantly affected by rate increases on other routes. Supply and demand remain relatively balanced, but transit times have not improved significantly and remain relatively long.

Europe / Mediterranean

Space: Increase
Rate Trend: Decrease
Market Update: Europe: Space availability has increased, and freight rates have declined.Mediterranean: Space availability has improved, accompanied by lower freight rates.

US West

Space: Increase
Rate Trend: Decrease
Market Update: Since Week 28, the previous concentrated shipment demand has been significantly exhausted. Spot cargo demand has weakened, and carriers are facing challenges maintaining high-rate quotations.The market is showing a divergence between published rate increases and actual transaction levels, with spot freight rates continuing to decrease.For the second half of July, capacity on the US West Coast is expected to remain ample. Carriers are releasing special-rate allocations on individual vessels to absorb excess capacity, and freight rates are expected to decrease further.

US East

Space: Increase
Rate Trend: Decrease
Market Update: After a short-term increase in early July, Transpacific US freight rates have quickly corrected. The previous inventory replenishment demand has largely ended, resulting in oversupply in the market.US East Coast 40HQ spot rates dropped approximately 10% in one week, from USD 9,000 to USD 8,100. In mid-to-late July, excess capacity is expected to continue putting pressure on rates.Customers with shipment plans are advised to compare special-rate offers from different carriers and secure suitable space flexibly to reduce costs.

South America West Coast / Mexico

Space: Ample
Rate Trend: Reduced by USD 300/300
Market Update:  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 WK30 Blank Sailing.WSA space has been tight recently, and heavy containers require separate confirmation.

Central America

Space: Ample
Rate Trend: Reduced by USD 300/300
Market Update:  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.

Panama / Caribbean

Space: Tight
Rate Trend: Reduced by USD 400/500
Market Update: 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 Coast

Space: Ample
Rate Trend: Reduced by USD 400/500
Market Update: 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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