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Global container trade volumes rose 4.4% year-on-year in the first quarter of 2026 despite mounting disruptions from the Middle East crisis and instability around the Strait of Hormuz, according to the latest data from Container Trades Statistics Ltd
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March 2026 volumes rose 5.8% from the previous month but fell 2.4% year-on-year, the first visible impact of the Strait of Hormuz conflict
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In March, the crisis caused a loss of around 840,000 TEUs in global volumes, which reflects just about three weeks of disruption data
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Global Price Index rose 5 points to 79, marking the first notable increase in months and signaling freight rate pressure building
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Freight rates expected to keep rising as carriers seek emergency rerouting and longer transit alternatives
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Rising oil prices pose additional risk
Global container trade volumes rose 4.4% year-on-year in the first quarter of 2026, despite mounting disruptions from the Gulf crisis and instability around the Strait of Hormuz, according to the latest container market data for March 2026 from Container Trades Statistics Ltd (CTS).
Global volumes reached 47.2 million twenty-foot equivalent units (TEUs) during the quarter in review, although March figures already reflected the early impact of the conflict in the Gulf region.
“Looking at March in isolation, global volumes increased 5.8% month on month, but declined 2.4% year on year, highlighting the early impact the Strait of Hormuz conflict is beginning to have on global trade flows,” the report said.
READ: Global container volumes hit 5-year high at 15M TEUs in Feb 2026
CTS noted that Q1 2025 figures were heavily distorted by a major reshuffling of global shipping alliances, creating an unusual comparison base for this year’s performance.
Freight pricing also began responding to geopolitical uncertainty, with the Global Price Index rising five points to 79 in March, returning to levels last seen in December 2025.
“Interestingly, the index stood at a very similar 80 points in March 2025, suggesting that while volumes remain resilient, pricing pressure is beginning to respond to mounting geopolitical uncertainty,” the report added.
The regional damage from the Gulf crisis is most acute in the Indian Sub-Continent and Middle East. Exports from the region had been running hot, up more than 9% in both January and February, before collapsing in March, falling nearly 29% year-on-year as the Hormuz disruption took hold.
The reversal was severe enough to drag the region’s full Q1 export performance to a 4% decline. Europe was the only other region to post an export contraction, down 3.2% for the quarter.
On the import side, North America was the lone region to record a decline, with Q1 volumes falling 3.8% compared with Q1 2025. Approximately 130,000 fewer TEUs moved from the Far East to North America during the quarter, a pullback analysts attributed to the compounding effect of tariff uncertainty and broader economic caution surrounding North American trade.
Sub-Saharan Africa stood out as the quarter’s strongest performer. Imports surged 17.7% in Q1 2026, with Far East-to-Africa trade alone jumping more than 30%, a result that underscores the growing strategic importance of emerging trade corridors in buffering global volume growth against disruptions elsewhere.
As the Gulf conflict intensified, the report estimated that approximately 840,000 TEUs were removed from global trade flows in March alone.
“Freight rates are expected to continue rising as carriers seek emergency routing solutions and longer transit alternatives,” the report said. “At the same time, increasing oil prices are likely to place additional pressure on consumer demand, which is something that has historically had a direct knock-on effect on global volumes.”
Meanwhile, CTS CEO Nigel Pusey will deliver a detailed analysis of the geo-economic disruption at CSC Live 2026 during TOC Europe on May 19. Industry stakeholders are anticipated to discuss expectations for the market for the rest of 2026.
