DSV Global Market update – November 2025

Dear Customers,

Key highlights from October 2025 global freight market update, are summarized below for your reference.

LOCAL UPDATE

🔹 Airfreight Operations

• More international airlines resumed operations on Israel route.
• To view the full list of airlines operating to/from Israel – 👉 click here

🔹 Ocean freight Operations

In addition, ongoing congestion, and severe weather at key transshipment ports (such as Gioia Tauro, Piraeus, and others) are adding to the operational complexity.

GLOBAL UPDATE 

Global Economy

• Geopolitical Developments: Houthis signal halt of Red Sea attacks; cautious optimism for Suez Canal return by March, though insurers maintain extra fees.
• Trade Policy: U.S. Supreme Court reviewing IEEPA tariffs; potential $750B–$1T refund if ruled unlawful.
• U.S.–China Deal: Tariff rollback and rare earth export restrictions lifted; U.S. suspends new maritime sanctions for one year.
• Eurozone: Industrial output up 0.2% MoM; growth remains fragile.
• EU Customs: Duty-free threshold (€150) abolished for non-EU parcels; implementation expected by 2026.

Ocean Freight
We keep congestion levels in north European ports, this is causing some lack of capacity for carriers to redeploy vessels back to Asia, combined with a uptick of volumes. On transpacific the trade has a bit more pressure with volumes reducing after peak season.

Air Freight
Global Demand continues to rise, driven by both general cargo and strong ecommerce exports. The ongoing movement by air of heavy industrial products is limiting available capacity to North America. Recent freighter fleet groundings are also intensifying pressure on capacity. As a result, rates are trending upward, and tight conditions are expected to persist in the coming weeks.

Ocean freight highlights

• Port Congestion: Elevated in Asia and Europe; Antwerp, Rotterdam, Hamburg facing severe delays (up to 7 days).
• Transpacific Volumes: Down 7.2% YoY in October; full-year growth forecast at 0.4%.
• Fleet Expansion: MSC surpasses 7M TEU capacity; global orderbook exceeds 10M TEU.
• The IMO process and future regulations: At the meeting in mid- October, it turned out the US pressure had been successful in preventing adoption of the Net Zero.it has been agreed to postponed for 12 months.
• Schedule Reliability: Stable at 65.2%; Maersk leads at 77%.
• Rates & Space:
  •  Asia–Europe: SCFIS rebounded +24.5%; mid-November hikes expected.
  • Asia–NAM: Rates down sharply (SCFI -16.4% West Coast, -17.2% East Coast).
  • Europe–NAM: Rates remain flat; demand weak.
  • Asia-LATAM

Airfreight highlights

• Demand Drivers: Tariff-related frontloading, AI investments, and e-commerce surge.
• Capacity: Global air cargo capacity up +4.7% YoY; Asia–Europe corridor expanding.
• Key Trends for 2026: E-commerce resilience, AI-driven demand, regionalization, moderate GDP growth (+3.1%).
• Asia exports: Strong demand to NAM and Europe; space tight.
• Rates & Space:
  • Southeast Asia: Rising exports; advance bookings recommended.
  • Europe: Lower rates to Asia; resilient pricing to NAM.
  • NAM: Spot rates mixed; YoY down -3% globally.