September Ocean Freight Market Update
Sep 08, 2026
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Thailand-Vietnam Routes:
For Thailand, shipment volumes from Laem Chabang have surged significantly; freight rates are driven by upward momentum and are approaching a seasonal peak. Spot space for voyages nearing the cargo cutoff is extremely scarce, and vessel delays have become the norm. Due to periodic service suspensions by multiple carriers, securing space for Bangkok (BKK) has become increasingly difficult, and overall capacity supply remains tight.
Regarding Vietnam, the COSCO-OOCL joint fleet plans to reduce capacity and suspend sailings mid-month. This contraction in effective capacity has directly pushed up market rates, leading to a short-term shortage of spot space for direct sailings. Rates for Hai Phong remain largely unchanged from last week, with some space gradually becoming available. Customers planning shipments are advised to book and secure space early to avoid risks associated with rising rates and potential space shortages or "rolled" cargo.
Philippines Routes:
Major carriers serving Manila ports continue to implement rate increases. For inland and remote destinations in the Philippines, SITC is the recommended carrier; their service offers excellent value, ample capacity, and highly reliable scheduling.
West Africa Routes:
MSC's West Africa rates remain in effect through mid-September. Rates for ports in Central West Africa have dipped slightly compared to late August, whereas rates for Freetown and Monrovia (Northern West Africa) have risen due to increased Port Congestion Surcharges (PCS) at the destination. A blank sailing (cancelled voyage) is scheduled for Week 41. CMA raised Peak Season Surcharges (PSS) for West African ports starting September 8, while Maersk (MSK) has maintained its early-September rates. Due to schedule delays and a surge of pre-holiday shipments, MSC is adopting a conservative approach to releasing space for Weeks 39 and 40; a subsequent rebound in cargo volume is expected to trigger a General Rate Increase (GRI). Overall capacity on these routes is tight with no surplus allocation; shippers are advised to finalize arrangements early to avoid booking difficulties caused by the late-September rush for space.
East Africa Route:
MSC's freight rates for the East Africa route saw a slight uptick in early September compared to late August, while space on other direct sailings remained tight. The concentrated injection of additional capacity during Weeks 34–36 exerted downward pressure on market rates; however, this high level of capacity deployment is unsustainable, and a significant contraction in capacity is expected in Week 37. Given the high uncertainty regarding future supply, there is a risk of a rate rebound should further capacity reductions be implemented. It is recommended to closely monitor carrier capacity schedules and plan shipments well in advance.