BAROMETER. In August, ocean freight rates were fairly stable or slightly down in the Asia-Europe and transatlantic markets but remained tight in the Pacific.
There was no summer truce for international container shipping, which once again showed its ability to adapt to the many constraints it faces, whether geopolitical or climatic. Although there was no tangible improvement, notably in the situation in the Middle East, the n° 1 scenario we set out in January in our forecasts for 2026 is proving increasingly probable, as the great majority of ships continue to go round the Cape of Good Hope, with sporadic returns to the Suez Canal.
The situation in the Middle East
The shipping companies talked a great deal during the summer about a return to the Suez Canal but, to date, it has been parsimonious. The Suez option has shown itself to be relevant on India-Mediterranean routes, where it has resulted in significant gains in sailing times and quicker round trips by avoiding the need to go round Africa and tranship cargoes at the entrance to the Mediterranean. Some very big ships are also descending through the Red Sea, mainly with empty containers for urgent repositioning in Asia. As a result, at the two extremities of the Red Sea, we can see an increase in the number of transits, mainly in the form of container ships and liquefied natural gas carriers on the Suez side and oil...
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