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Posted by Amanda Bradfield
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5 February, 2026
WHAT a week. You could almost hear the collective, relieved sigh from parents as the kids went back to school. Lunchboxes were packed, uniforms were eventually located (albeit they are a little shorter!), and the house suddenly felt… quieter.
Now I'm not sure if you remember back in the ’80s, Yazz sang “The Only Way Is Up, baby.” Well, this week, freight rates were heading firmly in the opposite direction.
The China-Australia trade is having a bit of a moment as Lunar New Year edges closer. It does feel slightly early for a downturn, especially when last minute bookings are usually the norm. That said, overcapacity and softer cargo volumes are starting to show, putting downward pressure on rates.
The Drewry World Container Index also took a hit this week, down 7% to $1,959 per 40' container, as the usual pre Lunar New Year surge failed to appear there as well. Rates slipped across all major trade lanes, signalling softer than expected demand overall.
This Lunar New Year marks the Year of the Fire Horse, and in China we can expect trucking capacity to tighten prior to the holidays as millions head home. Other countries also celebrate the festival, though their holidays tend to be shorter and less disruptive.
Moving away from horses and onto birds, MSC’s long awaited Eagle Service took off this week, with an 11 vessel rotation connecting Australia, New Zealand, and the US East Coast. As Dale Crisp has pointed out, at least six of the ships have just come out of drydock in Shanghai, a welcome refresh for the fleet.
So, what else is happening out there?
💠Maritime crewing crisis looms as half of seafarers consider leaving
💠Shipping industry mourns the loss of Hans-Henrik Nielsen
💠MSC confirms it will not use the Northern Sea Route
💠Fatal explosion rocks Iran’s Port of Bandar Abbas
💠Darwin Port buyback could carry a heavy price tag
💠Captain convicted of manslaughter over Stena seafarer death
💠NTC opens consultation on landside stevedoring charges
💠Strike triggered cargo backlog deepens crisis at Chittagong
💠FMC Halts Operations Amid Federal Shutdown
A lot is happening at Maersk right now. The company is reshaping its logistics and forwarding operations, reporting a Q4 ocean loss amid shifting Red Sea dynamics, and selling three 767 freighters .. all signalling ongoing network and cost recalibration.
You remember my New Year’s wish? To see more new vessels calling at Fremantle, and once again, MSC is making it happen! Meet the MSC Lyse V, formerly known as the APL Qatar. Built in 2010, she’s 275m long with a 32m beam, and she certainly looks like she’s had a little zhuzh up for her arrival in Australia as part of the Koala Service.
Hope everyone has a great weekend ahead!
