CHRW · 10-Q · 2026Q3 · Full report
Global Freight Pricing and Capacity
C. H. ROBINSON WORLDWIDE, INC. · 2026-10-30 · Importance 33 · Surprise 24
In global forwarding, ocean pricing and costs increased compared with the prior year as peak-season demand arrived earlier than usual and ocean carriers managed capacity, including through blank sailings. Air freight pricing and costs also remained elevated, reflecting Middle East conflicts’ effects on airspace availability and flight routings, as well as a significant increase in jet fuel prices. The higher ocean and air freight pricing and costs contributed to increased net operating working capital during the first nine months of 2026.
Key facts
- Near-term ocean and air freight pricing volatility is likely to continue to be driven by Middle East conflict-related disruptions, potential renewed Red Sea transit disruption, new capacity entering the market, and evolving trade and tariff policy; the ultimate extent and duration remain uncertain. source
- Global ocean peak-season demand began earlier than usual in Q3 2026; despite generally sufficient global vessel capacity, blank sailings and operational disruptions constrained effective capacity and disrupted vessel schedules, pushing Trans-Pacific ocean rates higher. source
- In Q3 2026, capacity was available on many air freight lanes, but demand for technology-related cargo, including AI infrastructure equipment, tightened capacity on certain trade lanes. source
- In global forwarding, ocean pricing and costs increased compared with the prior year as earlier-than-usual peak-season demand and ocean carriers' capacity management, including blank sailings, supported higher rates. source
- Q3 2026 ocean freight rates remained significantly higher than Q3 2025, when excess vessel capacity, softening consumer demand, and shifting tariff policies contributed to substantially lower rates across many trade lanes. source
- On Asia-to-Europe trade lanes, ocean carriers gradually increased transits through the Suez Canal, restoring some effective capacity. source