Shipping Under Pressure: Trade Volumes Hold Strong Amid Middle East Shipping Crisis

Global Container Trade Sustains Growth Despite Middle East Disruptions

Global container trade grew 4.4% year-on-year in Q1 2026 despite Middle East disruptions, but March saw early weakness with a 2.4% drop and about 840,000 TEUs lost. Freight rates are rising again as rerouting and longer routes increase costs, with further pressure expected from higher oil prices.

The Philippines is facing higher costs and delays from global shipping disruptions, even as Q1 2026 saw continued growth in cargo and container traffic. Carriers are adding extra fuel surcharges as vessels take longer routes to avoid conflict zones, driving up landed costs for Philippine importers and exporters.