Containers are down by 31% this week; air cargo is up by 5%
Hello colleagues and interested parties
We are sharing the latest version of the cargo report for distribution.
The focus of this week’s report revolves around the impact of the Iran conflict:
1. Global Shipping Update:
a. Global container port throughput grew by +5,2% in 2025, exceeding underlying trade growth (+4,7%), reflecting continued network disruption rather than pure demand expansion.
b. Transhipment hubs remain the primary beneficiaries of reconfigured trade flows, with strong gains at Singapore (+8,6%), Colombo (+6,5%), and Tanjung Pelepas (+14,5%).
c. The Strait of Hormuz remains operational but highly constrained, with controlled vessel movements and an estimated ~204,000 TEUs affected amid elevated geopolitical risk.
d. Oil market volatility (Brent ~$100–$113 per barrel) is transmitting cost pressures into global supply chains, reinforcing a cost-driven freight environment.
e. Container freight rates increased by +2,3% (w/w) to ~$2,172/40’, with recent gains largely driven by bunker costs, war-risk premiums, and emergency surcharges.
2. Global Air Cargo Update:
a. Global air cargo markets are adjusting to Middle East disruptions, with capacity reductions of ~20–25% on key corridors and rate increase of up to 50–70% on certain lanes.
b. WorldACD data show air cargo rates rising by +10% (w/w) to $2,67/kg alongside a modest +4% volume recovery, driven by rerouting, charter deployment, and post-disruption demand normalisation.
