Ocean Freight Market Update
July 2026
What’s shaping Ocean Freight in 2026? Explore how various global dynamics are impacting the industry.
Global Ocean Freight Market Overview
Demand
- Global ocean freight demand increased 5% year to date, supported by continued growth in Asian export volumes.
- Peak season remains stronger than anticipated as headhaul demand continues to outpace backhaul demand.
Capacity
- Effective capacity remains constrained as global port congestion approaches 4 million TEU.
- Typhoon-related disruptions at Chinese ports continue to impact schedule reliability and vessel availability.
Rates/News
- Global freight rates continue to increase, with the strongest upward pressure on Transpacific Eastbound services.
- Carriers are gradually increasing Suez Canal transits, with 18% of relevant Asia-Europe services now planned via the route.
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Latest Trade Lane Updates
Far East Westbound
- Freight rates to Europe continue to climb due to strong demand and increasing port congestion.
- European port congestion has returned to levels last seen during the 2022 post-pandemic peak.
Transpacific Eastbound
- Rates to North America have exceeded levels reached during the 2025 tariff-driven spike.
- US import demand remains elevated ahead of the expiry of the Section 122 tariff.
Asia to Middle East, North Africa and Turkey (MENAT)
- Demand on Asia to MENAT trade lanes declined year over year in April 2026.
- Middle East operations continue to face disruption from vessel rerouting and equipment shortages.
Indian Subcontinent to Europe/Mediterranean
- Indian Subcontinent to Europe demand remained slightly below prior-year levels in April 2026.
- Capacity and demand on the trade remain broadly balanced according to the short-term outlook.
Indian Subcontinent to United States
- Indian Subcontinent exports to North America increased year to date in 2026.
- Capacity and demand on the trade lane are forecast to remain broadly balanced.
Asia to Latin America
- Freight rates on Asia to Latin America trades are above 2025 summer levels due to capacity shortages.
- Demand growth on Asia to Latin America trade lanes remains strong across both west and east coast markets.
Trans-Atlantic
- European exports to North America remain weak compared with the previous year.
- Trans-Atlantic schedule reliability has improved following recent winter disruptions.
Detailed Ocean Freight Market Update
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