Ocean Freight Market Update
July 2026
What’s shaping Ocean Freight in 2025? Explore how various global dynamics are impacting the industry.
Global Ocean Freight Market Overview
Demand
- Global ocean freight demand increased 4% year to date in 2026 driven by strong volumes out of Asia.
- Year on year demand declined as a one off impact driven by reduced Middle East volumes and US tariff implementation.
Capacity
- Global fleet capacity is expected to grow around 3% in 2026 remaining below historical averages.
- Effective capacity remains constrained due to port congestion and ongoing Suez Canal detours.
Rates/News
- Ocean freight rates are rising sharply driven by strong demand and limited available capacity during peak season.
- Bunker prices remain elevated driving additional surcharges and sustained cost pressure across the market.
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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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