Ocean Freight Market Update
November 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 grew 5% year to date, driven by 8% growth in Asian exports.
- Peak season demand is gradually easing, while Asian exports and secondary trades remain strong.
Capacity
- Global fleet capacity is forecast to grow 4% year over year in 2026.
- More than 10% of the global fleet remains tied up in port congestion, equivalent to 3.6 million TEU.
Rates/News
- Global market rates remain more than double last year’s level as port congestion keeps pressure on capacity.
- Suez routings continue to return, while mixed routings and network realignment affect schedule reliability.
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Latest Trade Lane Updates
Far East Westbound
- Demand remains strong, with FEWB volumes up 9% year to date while backhaul demand remains flat.
- Rates are rising through year-end, driven by strong demand and congestion at both ends.
Transpacific Eastbound
- Demand remains broadly flat, while disruption in Asia continues to affect schedule reliability.
- Rates are stabilizing at high levels and are expected to soften slightly into Q4.
Asia to Middle East, North Africa and Turkey (MENAT)
- Demand is up 9% year to date and 1% year over year following an earlier decline.
- Capacity remains tight as Middle East disruption continues to affect network fluidity and schedule reliability.
Indian Subcontinent to Europe/Mediterranean
- Demand remains softer, with Indian Subcontinent to Europe volumes down 6% year to date and year over year.
- Congestion has increased in India following cargo surges at key transshipment ports and recent weather disruption.
Indian Subcontinent to United States
- Demand remains above last year overall, with volumes up 8% year to date and 1% year over year.
- Capacity conditions remain tight on the Indian Subcontinent to North America trade.
Asia to Latin America
- Demand remains strong, with volumes up 11% year to date to the West Coast and 8% to the East Coast.
- Rates remain volatile as high demand drives utilization above 98% and limits the seasonal downturn.
Trans-Atlantic
- Europe to North America demand is broadly stable year to date, while volumes are up 7% year over year.
- Capacity continues to exceed demand on the Europe to North America trade.
Detailed Ocean Freight Market Update
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