China Rate Levels:
We are pleased to advise that ocean rates from China ports have taken some substantial cuts over the last two (2) weeks, we saw some good reductions in mid-February and again from 1st March, 2026.
In the last 24 hours we have received three (3) updates from various carriers to the East Coast Australia ports, those rates now being at their lowest level in recent years. There have been no changes to rates to Fremantle and Adelaide at this time.
Middle East Conflict:
The Middle East war continues to occupy news items at present, the repercussions on global supply chains will be substantial. Below is the latest information on the situation:
Airfreight:
- Middle East airport hubs in Doha, Abu Dhabi and Dubai remain closed due to missile and drone attacks, all air space in the area remains closed.
- We understand that a handful of flights have departed the Middle East overnight with a couple to India, one flight to London and another to Rome.
- All flights to/from Australia are still delayed, and several carriers from the area have aircraft grounded in all major Australian cities.
Seafreight:
- The Strait of Hormuz is closed, all tanker and container traffic to/from United Arab Emirites, Qatar, Saudi Arabia, Bahrain, Kuwait, Iraq and Oman ports are either staying in port or seeking safe refuge elsewhere.
- Shipping Lines operating services to/from these ports have immediately implemented contingency measure to maintain vessel and crew safety.
- Lines have announced that substantial Emergency War Surcharges have been implemented on all cargo to and from these ports from 2nd March 2026, the rate level varies from line to line but we have already seen rates as high as USD 2,000/20ft and USD 4,000/40ft container advised.
- With the Suez Canal still closed, it should be noted that currently, there are no changes to the services operated to/from Australia and North Europe/UK, all vessels are still transiting via Cape of Good Hope as they have for the past 12 months, well away from the war zone.
- There has been no announcement on any changes on services to/from Mediterranean ports despite a drone attack on Cyprus yesterday.
GPSM will keep all clients updated on further developments as more news comes to hand.