The Bradfield Bulletin - 10th April 2026

WELL… that week didn’t hang around. The days blurred into one, and as we get back into sync across the country, we’re faced with something we haven’t seen in a little while, a full five day work week. Ouch.

The good news? Another Monday public holiday is already within sight!

This week, all eyes have been on the Strait of Hormuz. The majority of industry chatter, and rightly so, has centred around developments in the region. And not just from a shipping perspective, but from a broader human one. It’s been one of those situations where keeping up with the latest has felt both difficult and absolutely necessary.

A two week ceasefire was announced, offering what many hoped would be a pathway to stability and a reopening of the waterway. But so far, that optimism hasn’t quite translated into reality.

Despite the ceasefire being in place for over 24 hours, commercial shipping through the Strait remains extremely limited, with the few transits reportedly requiring Iranian approval.

Iran has also raised the idea of imposing a toll, something the International Maritime Organisation has pushed back on, warning it would set a dangerous precedent. Under UNCLOS (UN Convention on the Law of the Sea), transit through international straits is a right, not something to be controlled or monetised.

Some countries have moved to secure passage through agreements, but others are holding firm. Singapore, for example, has made it clear it won’t negotiate, reinforcing that freedom of navigation isn’t up for debate.

Turning briefly to rates, we’re starting to see early signs of this uncertainty feeding into the market.

Container spot rates edged slightly higher this week, with rising fuel costs and ongoing disruption around the Strait of Hormuz beginning to influence pricing across key trade lanes. Drewry’s World Container Index (WCI) ticked up 1% this week, with gains on Transpacific and Transatlantic routes offsetting softer Asia Europe pricing.

Closer to home, rates on the China-Australia trade appear to have stabilised for now, but some reports of sharp spot pricing still circulating in the market. That said, not all carriers are aligned, there are still attempts to push rates higher, with a number of General Rate Increase (GRI) notices starting to surface.

What else is happening out there?

Today’s photo captures the Maersk Shekou next to the MSC Augusta III. From this angle, the size difference is striking. The Maersk Shekou is over 110 metres longer and 13 metres wider, with room for more than 5,000 extra TEU (if my early morning math is correct!)

Hope everyone has a great weekend!