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 container demand grew 4% year to date in 2026 driven by continued volume growth out of Asia.
- Demand growth returned to positive territory at 3% year over year following the March decline linked to Middle East volumes and US tariff implementation.
Capacity
- Effective capacity remains constrained by port congestion and ongoing Suez detours.
- Global fleet capacity is forecast to grow 4% in 2026 which is below the average annual growth rate of recent years.
Rates/News
- Freight rates increased 84% year over year as peak season demand continued to exceed available capacity.
- Rates are expected to remain elevated through summer as demand from Asia remains strong.
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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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