Transpacific demand remains strong, fueled by eCommerce after Black Friday and Thanksgiving, extending into early December.
Southeast Asia drives volumes into the US, filling hubs such as TPE, HKG, ICN, NRT and SIN.
China–Mexico demand surges as shippers move cargo early before potential tariff actions.
2026 BSA discussions begin, with airlines signaling similar rate levels to 2025, despite expectations of a softer market.
Ocean Freight Outlook
Tariff easing fails to spark a rebound: Despite lower China tariffs and paused USTR 301 Port Fees, importers did not front-load again, as earlier surges had already filled inventories.
US retail restocking remains cautious, with imports slowing from 1.81M TEUs in July to 1.6M TEUs in October.
2026 outlook still uncertain, hinging on inventory recovery and carrier decisions on whether to resume the Suez Canal route.
Regional Outlook
Northeast Asia – Air demand to the US/EU stays high with tightening capacity and rising rates, while ocean markets remain soft except on Southeast Asia lanes where China-driven disruptions are pushing up costs.
Southeast Asia – Typhoons caused 1–3-week vessel delays and increased port omissions across the region.
India – Winter fog and hub congestion add pressure to already tight air capacity with limited freighters and belly space.
Europe – Air demand softens, while Asia–Europe carriers push sharp FAK increases that could nearly double Mediterranean rates.
North America – Air and ocean capacity to Asia remain tight, driven by high-tech exports and continued blank sailings.
There’s a lot more happening in the global freight market. Find out more in our monthly update.
