Freight Market Update – February 2026

This Month:

• Over 100 Asia to U.S. voyages cancelled in February as carriers intensified blank sailings
• Capacity withdrawals peaked at 60% on the Pacific Southwest
• Severe rolling continues, with 2 to 4 day delays at major Chinese ports
• Moderate congestion at Los Angeles and Long Beach, with weather-related variability in New York and New Jersey
• Pre-Lunar New Year air cargo spike followed by easing demand

Download the February 2026 Freight Market Update [PDF]

Global Freight Market Overview

Spot rates on the Transpacific remain near or below carrier break-even levels, prompting aggressive blank sailings to stabilize pricing. February saw more than 100 cancelled voyages across Asia to U.S. lanes, marking one of the most significant post-Lunar New Year capacity adjustments in recent years.

Demand weakness continues to drive carrier discipline across major trade lanes.

Ocean Freight Capacity and Rate Trends

By Week 9, capacity withdrawals reached 60% on the Pacific Southwest, 58% on the Pacific Northwest, and 50% on the U.S. East Coast. Severe rolling remains a concern, and shippers should plan for continued disruption through February.

Port congestion is contributing to delays of two to four days at key Chinese gateways including Shanghai, Ningbo, Qingdao, and Nansha. On the U.S. side, Los Angeles and Long Beach are experiencing moderate congestion, while New York and New Jersey continue to see variability due to earlier winter storms.

China to U.S. Air Cargo Market Conditions

Asia to U.S. air cargo demand increased ahead of Lunar New Year factory closures, tightening short-term capacity. With Lunar New Year now underway, demand is easing, and downward rate pressure is expected over the next two weeks.

Capacity adjustments remain in focus, including UPS retiring its MD-11 fleet and FedEx planning phased aircraft returns. Southeast Asia continues to show strength, with Singapore posting year over year growth driven by tariff-related pre-shipments.

What This Means for Shippers

Carriers remain focused on capacity control as demand softens. Blank sailings, rolling cargo, and localized congestion are shaping reliability across both ocean and air.

Shippers should secure space early, build schedule flexibility into transit plans, and monitor post-Lunar New Year normalization trends.

Contact J.M. Rodgers

For guidance on navigating current market conditions or to discuss your transportation strategy, contact the J.M. Rodgers team to explore tailored ocean, air, and inland logistics solutions.