The MPL Customer Letter - June '26

Market/Trade Information

Asia

• During the month of June many GRI’s and rate increase where implemented with even double-digit-price increase week on week. The strong peak season is linked to an increased demand for space as many clients are frontloading their cargo in an attempt to ship prior to the expected 1 july bunker fuel adjustment. On the spot market the carriers even announced rates from Asia to Europe and Med at $7,500 / 40’ HC. It is especially MSC who is being very aggressive in the market with rate increases. Other carriers are more limited in terms of price-hikes however they reduce capacity on agreed terms to open up slots for high(er) paying spot bookings. The closure of the Strait of Hormuz remains a key factor because of the restriction in global capacity and the effect on the higher fuel cost.

• MSC is the first to announce a temporary surcharge to cover for extensive waiting times in most of the Asian ports. This surcharge, called the Service Disruption Surcharge will only apply on the Asia–Australia trade for the moment. (Port of loading in scope are: China, Hong Kong, Taiwan, Japan, Korea and South East Asia).

Europe/ Mediterranean / Black Sea

• In Belgium, the port of Antwerp-Zeebrugge was severely affected by a strike held by the harbour pilots. The pilots refused to work and also applied periods with minimal labour force which created a mess at the terminal. On export, full containers could not be delivered to some quays because they were full with containers which could not get loaded on prior vessels because these vessels could not berth without the assistance of pilots. On Import, several vessels skipped the port to prevent delays and discharged elsewhere or with significant delays.

North and Central America

• As expected, due to the already dry period and the prospect of severe El Niño conditions, the Panama Canal Authority announced even more draft restricionts as from next month (end of July). Apart from the draft restrictions, also the number of allowed passages per day is reduced creating a long queue and expensive auction prices for transit slots.

  Indian Subcontinent

• Following a similar trend as the Asia-Europe market, out of India the rates (to the world) are increasing tremendously. To Europe, CMA announced a whopping 1,500 USD / unit increase. A duplicate message was send the same day to Latin America and US territories.

 Latin America

• From West Coast South America on several trades a big part of the available space is being concumed by the ‘citrus-season’. This puts a stress on pricing and space to book for all cargoes but it especially limits the availability of empty reefer equipment for other cargoes.

  • Due to bad weather, mainly but not limited to the more Southern ports in Latin America, the vessel schedule integrity is at a low point. Port ommissions, delays and changes in port rotation are resulting In extended transit times and deviations from the original ETA’s.

  • In the port of Vitoria, Brasil the coffee eports have started which traditionally takes a lot of, the already limited, empty equipment locally. Limiting other export shipments in the area.

  • In Buenos Aires, draft restrictions continue to limit vessel capacity on export, reducing the space availability from Argentina on certain sailings.

Red Sea and Gulf area

• The recent attacks and turmoils in the region of the strait of Hormuz and the tensions between the US and Iran have destroyed all hope of a reopening of the passage way for cargo vessels. This also immediately pushed the oil prices upwards (again).