[Feb 2026] Logistics Market Intelligence Report

: In Jan 2026, the average SCFI composite index fell 1.9% MoM to 1,499, with Lunar New Year demand softening amid trade uncertainty and declines spreading across all routes from mid-Jan. On North America routes, rates held firm through Week 2 on Lunar New Year demand and capacity controls, but have since turned downward as demand softened rapidly.

(Source : Shanghai Shipping Exchange )

: In 1Q 2026, ocean freight rates are likely to remain broadly stable to lower, as continued newbuild deliveries and slowing global demand keep supply exceeding demand. Elevated inventories from tariff-driven front-loading are expected to limit or eliminate the usual pre–Lunar New Year rate spike, keeping Feb rate upside constrained.

(Source : SamsungSDS Brightics)

: Global demand this year is expected to slow to around 2.5% YoY as tariff burdens weigh on overall trade, with demand growth toward Europe and emerging markets also likely to moderate compared to last year.
Continued new vessel deliveries are expected to sustain the structural oversupply this year, making carriers’ capacity management—such as blank sailings and service adjustments—more critical to defending profitability.

(Source : Clarksons)

[Asia] Shanghai Port remains the world’s largest port for the 16th consecutive year, handling 55.0 m TEU

-Shanghai Port ranked No.1 globally for the 16th consecutive year, handling 55.1 m TEU
-International transshipment reached 7.9 m TEU (+10.6% YoY), reinforcing its global hub role

[Americas] Restructuring of U.S.-bound imports amid weakening U.S.–China trade, increasing uncertainty

-In 2025, U.S. imports from China fell 28% YoY, with China’s share dropping from 40% in 2024 to 28.8% in June before a limited recovery to around 31.7% by year-end
-Displaced Chinese volumes shifted toward S.E.Asia, accelerating U.S.-bound supply chain diversification

[Europe] Potential reshaping of maritime logistics networks following the India–EU Free Trade Agreement

-The India–EU FTA is expected to enhance port infra, regulations, and security, improving logistics efficiency
-A focus on port digitalization and sustainable shipping is likely to enhance supply chain resilience

: Week 5 Baltic Air Freight Index fell to 2,014, down 3.3% WoW and 6.1% YoY. January average rates declined 15.8% MoM and 6.6% YoY, indicating a rate adjustment phase. As peak season ended, volumes eased across lanes, keeping rates on a downward trend.

(Source : TAC Index)

: February rates are expected to bottom out after the Lunar New Year, with North America-bound rates seeing partial downside relief from AI equipment and project cargo demand, while overall recovery remains weaker than last year and rates stay largely flat beyond the Feb trough.

(Source : SamsungSDS Brightics)

: Air cargo demand entered a slowing phase after the year-end peak season, as high tariffs and policy uncertainty prompted more conservative inventory strategies, with February demand likely to weaken gradually.
In December 2025, air cargo capacity continued to expand as the share of freighter operations increased, with airlines’ efforts to secure volumes adding downward pressure on rates.In January 2026, capacity rose 4% YoY, maintaining a solid growth trend, led by continued expansion on Asia–Europe lanes.

(Source : World ACD, IATA, Seabury)

[Asia] Southeast Asian e-commerce strengthened air-based direct shipping

-Platforms such as TikTok Shop and Shopee expanded air cargo options for cross-border deliveries to NA and EU, accelerating adoption of hybrid ocean–air logistics models

[Americas] January–February weather disruptions impacted airport operations and rates

-In late Jan, record winter storms across the U.S. Midwest and eastern Canada caused widespread flight disruptions, leading to short-term air cargo supply constraints
-As these weather impacts overlapped with post-peak demand recovery, pressure on rate stability increased

[Europe] Liège Airport growth driven by freighters and e-commerce

- In 2025, Liège Airport posted double-digit YoY cargo growth, reinforcing its role as a specialized European cargo hub, supported by fewer night-flight restrictions and freighter-optimized operations

Market Intelligence [Feb.2026]Logistics Market Intelligence Report