The Bradfield Bulletin - 19th June 2026

THIS week disappeared faster than MSC denying rumours it was buying Hapag-Lloyd.

Let's start with the headline story, the signing of a US-Iran memorandum of understanding has eased concerns around potential disruption in the Strait of Hormuz. While the agreement has been welcomed by the shipping industry, a return to normal operations in the region is expected to take time.

On to rates. The Drewry World Container Index continued its upward climb this week, rising 12% and reaching its highest level in 18 months. Strong demand, cargo frontloading and ongoing carrier surcharges are keeping pressure on rates across both the Transpacific and Asia-Europe trades, with further increases expected in the coming weeks.

Closer to home, Intra-Asia rates continue to edge higher as congestion builds at major ports and equipment shortages linger across the region. That ties into an interesting discussion from this week around whether the traditional shipping peak season still exists. With supply chains constantly reacting to one disruption or another, the line between peak and off-peak seems more blurred than ever.

A quick look at global port congestion suggests the industry is still operating under anything but normal conditions.

Congestion remains elevated across a number of major global hubs, with Singapore, Port Klang, Colombo and several key European gateways continuing to experience significant vessel queues. Meanwhile, African ports including Abidjan, Tema and Cape Town remain under pressure, adding to the growing list of locations where carriers are facing delays.

So, what else is happening out there?

Today's image is of the Express Black Sea. While this photo was taken last year, she is currently in Fremantle after arriving from Singapore. At 223 metres LOA and 32 metres wide, she's a familiar visitor to WA waters.

Have a fantastic weekend, and if you're watching, enjoy the World Cup action!