Weekly International Logistics Report
Summary
This week’s global logistics market is dominated by surging ocean freight rates driven by pre-tariff rush shipments and peak-season demand, alongside steady recovery of shipping traffic in the Strait of Hormuz. Multiple new cross-border air cargo routes launched to boost Asia-Europe and Asia-Southeast Asia capacity, while air freight fuel surcharges fell on cheaper jet fuel. Regulatory changes in the EU and upcoming US tariff adjustments reshaped cargo booking rhythms, and intra-Asia container rates cooled amid divergent lane performances.
Ocean Freight Market: Container Rates Hit Multi-Month Highs
Global benchmark indices soared sharply
Drewry World Container Index (WCI) jumped 9% week-on-week to USD 4,530 per 40ft FEU as of July 2, hitting a 22-month peak. Shanghai Containerized Freight Index (SCFI) climbed 3.8% overall, with all major long-haul lanes posting double-digit growth.
– Trans-Pacific: Shanghai-West US rate rose 10% to USD 6,349/FEU; Shanghai-East US surged 11% to USD 7,902/FEU. Carriers implemented July General Rate Increase (GRI) and Peak Season Surcharge (PSS); spot quotes for US West reached USD 7,200–7,600/40HQ, with US East near USD 9,000. Shippers rushed cargo ahead of the July 24 expiry of temporary US tariff exemptions, causing severe space shortages, empty container scarcity and frequent roll-overs.
– Asia-Europe & Mediterranean: Europe base port rates lifted 5.8% to USD 3,342/TEU; Mediterranean lanes jumped 9.5% to USD 4,666/TEU. CMA CGM imposed heavy peak surcharges starting July 1, pushing total all-in costs for Mediterranean 40ft containers above USD 11,000. Port congestion persisted in Rotterdam, Hamburg and Antwerp due to labor and handling capacity constraints.
– Intra-Asia lanes bucked the trend: Intra-Asia Container Index (IACI) dropped 4% to USD 1,035/FEU on slowing regional spot demand. South American routes saw a 10.8% index hike, fueled by pre-tax reform shipments from Brazil, Peru and Chile.
Strait of Hormuz shipping activity recovers
Data from Kepler showed 24 tankers and general cargo vessels transited the Strait of Hormuz on June 29, with throughput further rising on June 30. Vessels carried around 11 million barrels of crude, signaling improved market confidence in Middle East transit safety, though full operational normalization is yet to be achieved.
Air Freight: New Cargo Routes Expand Capacity, Fuel Costs Ease
Multiple new international freighter launches
– China Postal Airlines opened Guangzhou–Bangkok all-cargo service on June 30, operating three weekly B738 flights (18 tons per trip) to facilitate two-way cross-border e-commerce, electronics and agricultural goods flows between the Greater Bay Area and Thailand.
– China Eastern Logistics partnered with SF Express to launch Shanghai Pudong–Penang cargo flights, linking Southeast Asian high-value goods supply chains with trans-Pacific US routes via Shanghai hub.
– DHL added a new cross-continental freighter rotation connecting Shanghai, Bangkok, Bahrain, Brussels and East Midlands UK, adding 200 tons weekly capacity to ease Asia-Europe space tightness for Yangtze River Delta exporters.
– Golden Wings Air opened Oslo–Nanjing full cargo service, boosting China-Norway industrial and cold chain air connectivity.
Air freight market fundamentals
Jet kerosene prices declined 24.4% month-on-month, driving down airline fuel surcharges. Cathay Cargo cut long-haul fuel levy to HKD 8.4 per kg from July 1–15, a 28.8% reduction versus mid-June levels.
Trans-Pacific air freight rates rose 12%–20% month-on-month amid peak FBA restocking demand, with low-density bulky cargo carrying steep premiums and 3–7 day space backlogs. Asia-Europe air volumes faced downward pressure ahead of European summer holiday off-season, while tech and AI-related cargo maintained resilient demand in the second half outlook.
Policy & Cross-Border Logistics Updates
EU e-commerce customs regulation impact
The EU abolished the EUR 150 de minimis duty exemption for cross-border e-commerce shipments effective July 1. Forwarders reported massive pre-deadline air and sea cargo surges in June, inflating lane costs for all shippers regardless of verticals.
Cross-Strait express delivery growth
Fuzhou customs data revealed cross-strait air courier volumes hit 77,000 parcels in Jan–May 2026, up 28.7% year-on-year. Weekly 3 round-trip flights between Fuzhou and Taipei deliver next-day delivery for daily consumer goods, with streamlined customs clearance cutting enterprises’ overall logistics costs by 30%.
Market Outlook
– Ocean: Freight rates will stay elevated through mid-July due to pre-US-tariff shipments; analysts expect a correction in late July–August once advance stocking demand fades.
– Air: Jet fuel cost relief will partially offset peak-season space premiums, though trans-Pacific air capacity constraints will persist through summer.
– Risk factors: Middle East geopolitical fluctuations, European port labor bottlenecks, and potential US tariff hikes post-July 24 may trigger further supply chain volatility.
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