Negotiations between the U.S. and Iran for a peace deal are ongoing amid military tensions, with Iran asserting control over the Strait of Hormuz. Recent Iranian strikes on vessels disrupted marine traffic, leading to a halt in operations and a directive for ships to use a northern passage along the Iranian coast. Meanwhile, container freight rates have surged due to peak-season demand, with transpacific rates increasing by 8% last week. Rates to the West Coast reached approximately $6,200 per FEU, while East Coast rates hit $8,000 per FEU. Factors contributing to this demand include anticipated tariff deadlines and manufacturer price
hikes. In air cargo, Gulf carrier capacity is gradually recovering, but global rates remain significantly higher than pre-war levels.
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