“Looking at regional imports for the
first seven months of the year, all regions recorded year-to-date growth except
the Indian Sub-Continent & Middle East, which experienced a 4.2% decline,”
said a CTS statement. Sub-Saharan
Africa saw the biggest increases, with import volumes increasing 14% from Asia
and 15% from North America. “Another
recurring theme throughout 2026 has been Europe's continued import growth, up
6.1% year to date. Far East cargo has played a significant role, adding
approximately 1.5 million teu compared with the same period last year,” said
CTS. Looking ahead CTS said that even with all
the disruption on the Panama Canal, the Middle East crisis and the typhoon
season in Asia causing congestion, “global volumes have continued to adapt
rather than retreat”, whether that can be sustained throughout the year as
trading patterns are “reshaped”, remains to be seen, particularly as China’s
Golden Week, 1-7 October, approaches.
Freight rates have had a mixed
performance recently with the US spot rates rising fast, but that pace is now
easing, said Peter Sand, Xenata’s chief analyst. “It is a different story into Europe,
where spot rates from the Far East to North Europe have fallen 18% since early
July while rates into the Mediterranean are down 28%. The split in the global
market remains, with the Transatlantic to US East Coast still ticking upwards
to $3,000 per feu – the highest level since April 2023,” said Sand. From a forwarder’s point of view, CH
Robinson reports: “September is not shaping up as a conventional US import
peak, but ocean freight remains vulnerable to disruption. Typhoon congestion,
blank sailings, canal restrictions and carrier network changes are limiting
recovery options on several trade lanes.”
Meanwhile, Dimerco Express’s Director of sales and marketing Ted Chen
reflected on the Pacific trades’ adjustments: “The transpacific isn't one
market anymore - each port has its own balance point, and capacity is being
removed involuntarily. That's why slowing demand isn't pulling rates down.
Panama and Suez will decide where the market settles.”