Freight Market Update – April 2026
April 2026 freight market update highlighting rising ocean rates, tightening capacity, fuel surcharge volatility, port congestion, and shifting air cargo conditions across Asia to U.S. trade lanes.
This Month:
- Spot rates rise sharply due to emergency fuel surcharges and tightening space
- Carriers shift rate announcements to weekly amid increased volatility
- Capacity remains tight in North China and inland origins, with Vietnam under pressure
- Congestion persists across major global ports including Shanghai, Singapore, and Rotterdam
- Air freight capacity remains constrained with elevated and volatile pricing
Download the April 2026 Freight Market Update [PDF]
Global Freight Market Overview
Carriers remain focused on stabilizing rates through blank sailings as attention shifts toward the 2026 to 2027 service contract negotiations. Spot rates have risen significantly, driven by emergency fuel surcharges and reduced space availability.
While base freight rates remain relatively steady, total transportation costs continue to increase as surcharges are applied more frequently.
Ocean Freight Capacity and Rate Trends
Capacity management remains aggressive, particularly across North China and inland origin points. Vietnam continues to face allocation pressure despite strong export demand.
Congestion risks persist at major ports including Shanghai, Ningbo, Qingdao, Singapore, Nhava Sheva, and Mundra. Severe weather has also disrupted operations in Antwerp, Hamburg, and Rotterdam, slowing terminal throughput and inland trucking.
Fuel and Regulatory Developments
Fuel markets remain unstable following the recent closure of the Strait of Hormuz, which disrupted bunker supply and increased pricing. Requests from carriers to waive the standard thirty day notice period for emergency fuel surcharges were rejected by regulators.
As a result, carriers may shift these costs into the Bunker Adjustment Factor, leading to more frequent and less predictable monthly changes.
Contract Negotiations
Importers are approaching the upcoming contract cycle cautiously as spot rates to the U.S. West Coast remain under pressure. While overall congestion has eased in some regions, delays at Southeast Asian transshipment hubs continue to impact transit times.
Emergency fuel surcharges are adding further complexity to pricing and contract discussions.
China to U.S. Air Cargo Market Conditions
Air freight markets remain constrained, with elevated rates and limited capacity as airlines prioritize higher yielding shipments. Ongoing fuel volatility is contributing to frequent rate adjustments.
Shippers should expect continued pressure on air freight costs and plan for additional lead time on both Europe to U.S. and Asia to U.S. shipments.
Trans-Pacific Service Updates
MSC will implement changes across three Asia to U.S. West Coast services beginning in April to improve network efficiency and reduce congestion.
The Orient service will shorten its rotation and add Qingdao as the first port of call. The Sentosa service will expand to include Haiphong and additional Southeast Asia ports. The Chinook service will be consolidated into a single Pacific Northwest loop serving Seattle, Vancouver, and Prince Rupert.
These adjustments are intended to improve schedule reliability and provide greater flexibility across key trade lanes.
What This Means for Shippers
Rising surcharges, constrained capacity, and ongoing congestion continue to shape transportation costs and reliability. Increased rate volatility and shifting service networks require closer planning and coordination.
Shippers should monitor fuel-related cost changes, secure space early, and allow for additional transit time as market conditions remain fluid.
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.