[Mar 2026] Logistics Market Intelligence Report

: The Week 10 SCFI rose 11.7% WoW to 1,489 pts, supported by post-Lunar New Year cargo recovery and rising tensions in the Middle East.
By route, Asia–Middle East is facing actual operational disruptions and higher navigation risks, while Asia–Europe may see upward rate pressure due to Middle East transshipment constraints. Transpacific routes extended gains for a second week after early-year weakness, with U.S. West Coast and U.S. East Coast rates up 4.5% and 1.0% WoW.

(Source : Shanghai Shipping Exchange )

: In March, developments in the U.S.–Iran war are likely to add upward pressure to global ocean freight rates. Asia–Middle East rates are expected to remain elevated due to direct transport disruptions and operational risks, while Asia–Europe may also rise due to supply constraints from congestion at Middle East transshipment hubs.

(Source : SamsungSDS Brightics)

: Demand is already weakening most immediately for Middle East-bound cargo in March following the recent U.S.–Iran war. If the conflict escalates or prolongs, broader impacts across all routes are expected, including slower global container demand and higher volatility.
On the supply side, volatility may increase due to policy and geopolitical risks combined with structural oversupply. Iran-related risks may physically restrict Middle East-bound shipping, potentially reducing Asia–Middle East capacity and parts of the Europe network.

(Source : Clarksons)

[Asia] Port of Shanghai strengthens supply chain connectivity through cooperation with Maersk

-The Port of Shanghai and Maersk are advancing global network-based supply chain integration in logistics expansion and regulatory innovation.
-Combining Shanghai’s port infrastructure with Maersk’s logistics network is expected to enhance service innovation and port-centered supply chain competitiveness.

[Americas] Pacific trade uncertainty persists despite expectations of U.S. import recovery

-A ruling by the Supreme Court of the United States limiting tariff authority under the IEEPA may ease import cost burdens and support port volume recovery.
-The temporary tariff adjustment lowers the effective tariff rate by about 2%p, potentially improving cargo flows from key trading partners. However, policy uncertainty remains due to the possibility of additional tariff measures by the U.S. administration.

[Europe] Growth at the Port of Hamburg signals shifts in Northern European port competition.

-Rising cargo volumes and infrastructure expansion at the Port of Hamburg in 2025 are intensifying competition among Northern European ports, potentially weakening the relative position of the Port of Rotterdam and Port of Antwerp.
-Efficiency improvements and expanded infrastructure are shifting cargo from Eastern and Central Europe toward Hamburg, indicating a potential eastward shift in the European port network

: Week 9 Baltic Air Freight Index (BAI) recorded 2,040, down 6.0% week-on-week and 0.5% year-on-year.The February average index stood at 2,099, flat month-on-month and slightly lower year-on-year, indicating a stagnant rate environment.
In February, the TAC Air Freight Index continued a stable-to-corrective trend following the peak season. Due to airspace restrictions and flight cancellations linked to tensions between United States and Iran, global short-term air cargo capacity declined by about 22%, while the Asia–Middle East–Europe corridor saw reductions of up to 39%.

(Source : TAC Index)

: The SCFI is expected to trend upward, driven by demand recovery after the slack season and the impact of the US–Iran conflict.As the outbreak of the conflict coincides with renewed uncertainty surrounding United States tariff policies, freight rate volatility is likely to intensify compared with the beginning of the year, amid heightened geopolitical risks and shifts in trade policy.

(Source : SamsungSDS Brightics)

: In February, demand declined further as seasonal events concluded and production and shipments in Asia slowed during the Lunar New Year holidays. Cargo volumes from Asia weakened, while shipments from the Middle East and South Asia remained relatively resilient, showing route-specific divergence.
On the supply side, capacity from Northeast Asia declined slightly after the Lunar New Year, but overall capacity continued to increase year-on-year, supported by expanded freighter operations. Across all regions, capacity remained higher than the same period last year, with Middle Eastern carriers expanding passenger belly capacity and freighter services, which is expected to support long-haul route capacity growth.

(Source : World ACD, IATA, Seabury)

[Asia] Chinese airlines strengthen transpacific air cargo network through expanded cooperation.

-China Cargo Airlines and SF Airlines have signed a capacity swap agreement on the Shanghai–LA and Shenzhen–LA routes.
- Through joint utilization of cargo capacity, the two carriers aim to improve transport efficiency and load factors on China–U.S. air cargo routes. They also announced plans to develop multimodal logistics products linking Southeast Asia with the U.S. and Europe, while expanding cooperation to accommodate growing e-commerce cargo demand.

[Americas] Rising operational pressure on air cargo amid growing uncertainty over U.S. tariff policy.

-Following the State of the Union address, the United States Government announced a temporary additional 10% tariff on imported goods, increasing policy uncertainty.
-The Airforwarders Association warned that sudden policy changes could heighten air cargo volume volatility, put pressure on freight rates, and increase the burden of complex customs clearance and regulatory compliance, potentially creating disruptions across global supply chains.

[Europe] Frankfurt–Bengaluru airports expand cargo network through strategic partnership

-Frankfurt Airport and Bengaluru Airport have signed a strategic air cargo partnership.
- The collaboration aims to share cargo handling expertise and improve operational efficiency, enhancing route connectivity and network competitiveness amid growing Europe–India trade flows.

Market Intelligence [March. 2026]Logistics Market Intelligence Report