Global container fleet set to reach record 34m TEU

The Global Trade Brief · 7 September 2026

Five minutes to understand what matters in global trade.

---

---

What to Watch

• Chile and India seek to conclude CEPA talks before year-end.
• France’s implementation of escalating penalties for ultra-fast-fashion platforms.
• El Niño forecasts and any signs of Panama Canal constraints in H2 2026.

The full day in global trade

Today’s Headlines

• Pacific and Atlantic rates rise as reliability deteriorates
• Diesel reaches record average of $5.85 per gallon
• Suez return lowers Europe rates as US prices approach peaks
• August air cargo demand grows 6% as spot rates rise 24%
• Shanghai–New York container rate reaches $9,587 per 40ft
• Services reach 27% of global exports, UNCTAD says
• Everllence launches vessel technology offering up to 6% gains
• Barcelona BEST expects more mega-ships as Suez traffic returns
• India targets fraudulent seafarer insurance after deaths
• Ship delays remove 2.3m TEU of effective container capacity
• Top 25 cargo airlines increase 2025 demand by 5.5%
• TikTok Shop opens UK sales to merchants in eight EU countries
• Hormuz commodity-vessel transits fall to four in one day
• China and Russia plan five ice-class container ships
• Car-carrier owners pivot toward Chinese vehicle exports

Today’s Analysis

📦 US container rates surge as delays remove 2.3m TEU of capacity

Why it matters: Importers face higher transpacific and Atlantic freight costs even as Suez normalisation pushes Asia–Europe prices lower.

• Drewry’s World Container Index put Shanghai–New York at $9,587 per 40ft, up 3% week on week.
• The Shanghai–New York rate was almost triple the $3,677 recorded a year earlier.
• Shanghai–Los Angeles increased 5% week on week.
• Sea-Intelligence said schedule reliability fell to 56.4% in July, its lowest level since February 2025.
• Late vessels arrived more than six days behind schedule on average.
• Congestion and delays removed an effective 2.3m TEU of vessel capacity.
• Suez normalisation drove down European rates while US East Coast prices approached pandemic-era highs.

⛽ Record diesel prices raise costs across freight networks

Why it matters: Higher diesel expenditure increases the transport-cost base for freight and delivery networks.

• Diesel reached a record average price of $5.85 per gallon.
• Diesel is used across freight and delivery networks serving a wide range of goods.

✈️ Air cargo demand grows while August spot rates remain 24% higher

Why it matters: Sustained demand is delaying larger freight-rate reductions despite weaker European e-commerce flows from China.

• Xeneta reported that global air cargo demand increased 6% year on year in August.
• Global spot rates averaged $3.13 per kg, up 24% year on year.
• Spot rates declined 3% month on month in August.
• Year-on-year spot-rate growth eased from 28% in July, 38% in June and 41% in May.
• China’s e-commerce exports to Europe fell 25% after an EU duty affecting low-value shipments.
• Demand among the top 25 cargo airlines increased 5.5% in 2025, compared with 3.4% across the industry.
• FedEx retained first place despite a 9.9% volume decline to 16.3bn cargo tonne-kilometers.

🛒 Services expand in global trade as TikTok opens EU-to-UK selling

Why it matters: Digital platforms are widening market access while services account for a larger share of traded value and production inputs.

• UNCTAD said services represent 71% of global intermediate inputs.
• The services share of world exports increased to 27%.
• TikTok Shop’s Sell To UK function allows eligible EU merchants to manage EU and UK catalogues from one dashboard.
• The function is available in Spain, Belgium, Germany, France, Ireland, Italy, the Netherlands and Poland.
• TikTok announced the update through TikTok Shop Academy on 26 August.
• Eligibility requires completed sales during the previous 30 days and a positive financial balance.

🧊 Vessel projects target 6% efficiency gains and year-round Arctic trade

Why it matters: Efficiency technology and ice-class tonnage could lower operating requirements and expand seasonal shipping capacity.

• Everllence introduced Engine Supported Air Lubrication technology.
• Everllence said the technology can increase vessel efficiency by up to 6%.
• NewNew Shipping Line and Rosatom are advancing plans for five large ice-class container ships.
• The planned vessels are intended to support year-round commercial operations on the Northern Sea Route.

🛡️ Suez traffic returns gradually as Hormuz flows and insurance weaken

Why it matters: Diverging security conditions are restoring larger Mediterranean vessel calls while constraining Gulf transits and increasing insurance scrutiny.

• Hutchison Ports expects larger containership calls at Barcelona’s BEST terminal as carriers progressively return to the Suez Canal.
• Sea-Intelligence data showed about 19% of Asia–Europe capacity was operating through the Suez Canal.
• BEST recently commissioned two Super Post-Panamax ship-to-shore cranes that arrived in June.
• Four commodity vessels transited the Strait of Hormuz on Thursday, down from nine one day earlier.
• The Hormuz tally remained below the 10-day average of about 15 vessels.
• India is tightening oversight after a shadow fleet tanker used fraudulent protection and indemnity documents before a fatal US attack.

🚗 Car-carrier owners shift vessels toward China’s vehicle exports

Why it matters: Prioritising Chinese new-energy vehicle exports changes ro-ro vessel deployment and capacity available to other automotive markets.

• Western car-carrier owners are prioritising vessels for Chinese new-energy vehicle exports.
• Operators are commissioning additional newbuildings to target the Chinese market.
• Wallenius Wilhelmsen identified rising Chinese vehicle exports as a major source of demand for its car-carrier fleet.

Sources

1. Shippers getting less value despite higher freight spending
2. Diesel hits record price at an average of $5.85 a gallon
3. Why container freight rates are moving in opposite directions
4. Six percent demand growth in August shows air cargo resilience
5. Late peak demand sends container spot rates to the US higher
6. Global Trade Update September 2026: Services transform trade
7. Everllence introduces ESAL to increase vessel efficiency by up to 6%
8. Hutchison expects more mega-ships in Barcelona as Red Sea traffic returns
9. Seafarer deaths prompt India to clamp down on fake insurance
10. Congestion and ship delays take 2.3m TEU capacity off the market
11. Top 25 cargo airlines 2025: A year of instability
12. How EU merchants can start selling on TikTok Shop in the UK
13. Gulf shipping traffic via Hormuz remains below 10-day average
14. China-Russia Arctic shipping push advances with ice-class ships
15. Car-carrier owners pivot toward China as vehicle exports boom