2026.08.27 Shipping Weekly

Shipping Weekly – 27 Aug 2026 | Suez Return & Carrier Moves

The week of 20 to 27 August 2026 was when the return to Suez moved from talk to operations. MSC formally shifted four Asia-Europe services back through the canal, and two of Maersk’s largest ships transited on 22 August. As tonnage that had been absorbed by the longer Cape of Good Hope routing comes back, effective capacity rises, and container spot rates fell for a third consecutive week. At the same time an MSC vessel was hit by a drone in the Black Sea, and Hapag-Lloyd’s acquisition of ZIM entered its final stage with closing targeted before year end. In a week of falling rates, the harder questions for shippers are about space and risk rather than price.

Key points this week

The return to Suez gathers pace. MSC formally moved four Asia-Europe services (Tiger, Jade, Albatros and Himalaya) to a Suez routing, and two of Maersk’s largest ships transited the canal on 22 August. A return to normal within the year is starting to look realistic.
Rates fall for a third straight week. Tonnage previously absorbed by the Cape of Good Hope routing is coming back through Suez, which increases effective supply. Shanghai to Europe is modestly softer, and next week is expected to be flat.
Hapag-Lloyd and ZIM enter the final stage. The deal is priced at $35.00 per share, around $4.2 billion in total. Filings with competition authorities are complete and some approvals are already in hand. Closing is targeted before year end, which would confirm the combined group as the world’s fifth largest.
A drone strike in the Black Sea halts bookings. MSC’s own vessel MSC ULSAN III was attacked, and MSC immediately suspended new bookings to and from Novorossiysk. Watch for knock-on effects on war risk insurance premiums.

Container rates and market conditions

Item	Level	Week on week
Shanghai to Genoa	$4,955	-2%
Shanghai to Rotterdam	$4,401	-1%
Shanghai port, average waiting time	32.3 hours	Easing
Rotterdam port, average waiting time	25.0 hours	Easing
Blank sailings next week	2 sailings	Ongoing

The figures come from Drewry’s World Container Index assessment for the week of 20 August, and are spot rates for 40ft containers. Mediterranean services are the most exposed to the return to Suez, with Shanghai to Genoa down 2% week on week. North Europe is soft as well, with Shanghai to Rotterdam down 1%. Japan-origin European rates are quoted separately from this index, but it remains a useful gauge of east-west supply and demand for anyone booking out of Japan (see our route pages). On the port side, average waiting times at both Shanghai and Rotterdam eased; the peak has passed, but levels remain high. Two blank sailings are scheduled for next week, so carriers are still managing supply against demand.

What does the return to Suez mean for exports out of Japan?

The main effect is that tonnage moves. Capacity that was being absorbed by the long Cape of Good Hope voyage turns faster once it goes back through Suez, so the same number of ships delivers more effective supply. That is the mechanism behind three consecutive weeks of falling rates, and on cost alone it is helpful. The flip side is that as tonnage is drawn back to Asia-Europe, space can become harder to secure on the trades that had been served the long way round. Carriers are moving back at different speeds, so it is worth treating the standard transit times on our route pages, such as Japan to Apapa and Japan to Dakar, as a baseline and confirming the actual schedule each time you book. For West Africa in particular, which has been served via the Cape, the thing to watch this month is space and timing rather than the rate itself.

Carrier by carrier

MSCUpdate

On 24 August, MSC formally moved four Asia-Europe services (Tiger, Jade, Albatros and Himalaya) to a Suez routing in both directions. Seven of its ships transited the canal this month, several of them going dark by switching off AIS. On 26 August, after its own vessel MSC ULSAN III was hit by a drone while heading for Novorossiysk, the carrier immediately suspended new bookings to and from Novorossiysk in the Black Sea, and is handling alternatives for shippers through its local agency in Russia. MSC also continues to take an active stance on M&A, looking to settle several deals quickly, including taking full ownership of companies it already holds stakes in.

MaerskUpdate

On 22 August, two of Maersk’s largest container ships transited the Suez Canal together. Under the Gemini cooperation, the AE19 service (Asia to the Mediterranean) makes the Suez routing permanent and adds a call at Jeddah. On 13 August the carrier published Q2 results and raised its full-year 2026 guidance, assuming global container volume growth of around 4% for the year, citing resilience centred on Asia and higher spot rates. On surcharges, it revised the Emergency Contingency Surcharge (ECS) on Indian subcontinent services to North Europe and the Mediterranean. On 12 August it announced a partnership with Viaservice in Kenya to make container management more efficient for local customers.

CMA CGMUpdate

CMA CGM set a peak season surcharge (PSS) of EUR 100/TEU on reefers to West Africa, effective 1 September, covering refrigerated cargo from North Europe, the Baltic, Scandinavia, the West Mediterranean and the Adriatic. On 25 August it added a port congestion surcharge on reefers to Tema in Ghana, citing congestion in the port’s reefer yard. From 24 August it introduced an Inland Emergency Fee on inland transport via Antwerp, Zeebrugge and Rotterdam, applied on a port-of-discharge basis from 24 August for imports and on a port-of-loading basis from 1 September for exports. On 5 August, applying for and tracking B/L releases became available through MyCS (My Customer Service). The carrier warns that 2026 will be a difficult year on overcapacity and weak demand, yet added 235,500 TEU (+5.7%) in the first half, the fastest fleet growth in the top ten.

COSCOWatch

Four group companies hold board meetings for their interim results on the same day, 28 August. Holdings, Ports, Development and International are due to approve unaudited results for the first half of 2026 (January to June), and Ports will also consider whether to declare an interim dividend. There were no other notable announcements this week. The figures land on 28 August, so the detail will be covered in the next issue.

Hapag-LloydWatch

The acquisition of ZIM, at $35.00 per share and roughly $4.2 billion in total, has entered its final stage. All filings with competition authorities are complete and some approvals have been obtained. Closing is targeted before year end; on completion the group would rank fifth in the world with more than 400 vessels, over 3 million TEU of capacity and annual throughput above 18 million TEU, with expected synergies of $300 to $500 million a year. Q2 results published on 13 August showed revenue recovering to $5.8 billion (+19% quarter on quarter) and full-year group EBIT guidance raised to $100 million to $1.1 billion, although the first half carried a net loss of EUR 151.9 million against a profit a year earlier. On terminals, the carrier plans to take a 25% stake in APM Terminals Maasvlakte II in Rotterdam, aimed at underpinning long-term volumes and earnings.

ONEUpdate

ONE raised its full-year profit guidance sharply, from $300 million to $900 million, explaining that recovering volumes and higher rates more than offset higher fuel costs and the disruption from events in the Middle East. Q1 FY2026 results (April to June), published on 4 August, showed revenue of $4.539 billion and net profit of $31 million. On 8 August it launched INE, a new India to US East Coast service calling Nhava Sheva, Mundra, Salalah, New York, Norfolk, Savannah, Charleston and back to Nhava Sheva. From October it will move its container handling on Zealand in Denmark to the port of Kalundborg.

EvergreenNo change

No new releases could be identified for this week, so there is no change on the rate and service side, and the official Notices & News page shows no major announcements for the period. Two continuing themes remain on the record: back in April the carrier said that higher fuel costs driven by events in the Middle East were clouding both its deployment planning and its fourth-quarter demand outlook, and it lost its case in the DC Circuit Court of Appeals over the US Federal Maritime Commission’s finding that its detention charges were unreasonable.

HMMUpdate

HMM has shifted its fleet strategy. The 2030 container capacity target comes down from 1.55 million TEU to 1.47 million TEU, while vessel count rises from 130 to 166 ships, meaning smaller ships at higher frequency. More than ten newbuildings in the 13,000 TEU class are on hold, with resources redirected to energy transport including Suezmax and crude tankers, VLGCs and LNG carriers. The carrier also launched an East Africa service. First-half results showed revenue of KRW 6.121 trillion, net profit of KRW 765 billion and an operating margin of 10.2%; Q2 profit rose, but first-half net profit was down 37% year on year. For the third quarter, HMM expects uncertainty to increase on US tariffs, port congestion and geopolitical risk.

Yang MingUpdate

In mid-August, Yang Ming reported net profit of TWD 7.17 billion for January to June. Its share price stood at TWD 56.10 on 18 August, up 2.56%. In July it acquired 11,850 containers for $39.5 to $40.5 million, continuing to build up equipment. Five LNG dual-fuel vessels of 15,500 TEU already ordered from HD Hyundai Heavy Industries are being delivered progressively from 2026.

ZIMWatch

On 10 August, Hapag-Lloyd’s acquisition was notified to Brazil’s competition authority (CADE), with reviews running in parallel across several jurisdictions. The deal was agreed on 16 February 2026 and approved at an extraordinary general meeting on 30 April. Closing is scheduled for the fourth quarter, with approval by the Israeli government as one of the conditions. Part of ZIM’s Israel-related business will be carried over into a new company, New ZIM.

Wan Hai (outside the top ten, for reference)Update

Wan Hai placed an additional order for eight newbuildings, including four 6,000 TEU ships at Huangpu Wenchong and two 9,200 TEU ships at Shanghai Waigaoqiao, all LNG-ready. The orderbook has grown to 50 vessels and about 500,000 TEU. Quarterly profit rose sharply year on year, and the carrier is targeting a 14% increase in annual contract rates on the Pacific. On-time arrivals remain low, so schedule reliability is still a weak point.

What this means for shippers and forwarders

Falling rates help, but space gets harder to read. As the return to Suez draws tonnage back to Asia-Europe, space can become less predictable on the trades that were served around the Cape. Book early from September onwards and work back from the cut-off when you plan (how to prepare for container shortages).
West Africa surcharges are reefer-only for now. Both of the CMA CGM measures this week, the PSS to West Africa and the congestion surcharge on Tema, apply to refrigerated cargo and are not a direct charge on dry containers. Even so, a congested reefer yard slows the whole terminal, so ETAs to West African ports including Tema are better set conservatively. Whether the surcharges spread to dry cargo is worth checking against each quotation’s validity period and the official tariff (what makes up an ocean freight quotation).
Port congestion feeds straight into free time. Whether the delay is the vessel or the box sitting after discharge, storage and equipment charges accumulate the same way. Fix the start date of free time and any room to extend it before loading (demurrage and detention explained).
East Africa now offers more places to ask. With HMM launching an East Africa service, cargo to Mombasa and Dar es Salaam can realistically be compared across several carriers on both space and rate.
Smaller ships at higher frequency favour smaller lot sizes. Major carriers holding back large newbuildings while increasing vessel counts is, over the medium term, a positive for shippers with many destinations and modest volumes per destination. More sailings also make it easier to recover when you miss one.
While an M&A is in progress, watch quotation validity. Hapag-Lloyd’s acquisition of ZIM is now at the stage of targeting a closing before year end. Depending on how services are rationalised afterwards, networks and pricing structures could change, including around the Mediterranean and North Africa. It is prudent not to rely on long validity periods either side of closing.
When space is hard to read, how you secure equipment matters too. To avoid being caught short on both space and boxes when capacity tightens, shipper-owned equipment is worth considering (SOC containers / SOC versus COC).
For Black Sea and Russia cargo, confirm acceptance and insurance first. With MSC suspending new bookings, carriers may take different positions on this trade. Establish both booking acceptance and the direction of war risk premiums at the enquiry stage.

The week ahead

28 AugInterim results from four COSCO group companies (Holdings, Ports, Development and International), plus whether Ports declares an interim dividend.
1 SepCMA CGM’s EUR 100/TEU reefer PSS to West Africa takes effect. The question is whether it extends to dry cargo, so watch for tariff revisions.
1 SepCMA CGM’s Inland Emergency Fee takes effect for exports on a port-of-loading basis, covering inland transport via Antwerp, Zeebrugge and Rotterdam.
OngoingWhich carriers beyond MSC and Maersk declare a return to Suez. The pace at which Ocean Alliance and Premier Alliance follow will drive rates.
OngoingRegulatory approvals for Hapag-Lloyd and ZIM: whether closing happens within the year, and the first news of any service restructuring.
OngoingHow other carriers handle Black Sea and Russia cargo. Further suspensions following MSC would affect tonnage deployment in the Mediterranean.

Sources

This article was compiled by the OCEAN FREIGHT JAPAN editorial team from public company announcements and press reports, covering 20 to 27 August 2026. Surcharge levels and their conditions of application can change after announcement, and actual application varies by origin, commodity and contract terms. Always confirm applicability against the carrier’s official tariff and your own quotation.