NTG Navigate – April edition
13. April 2026
Freight market update
Dive into our latest Air & Ocean Market Update, where we share key insights into the evolving air and ocean freight landscape – including demand trends, capacity shifts, and rate developments.
Air freight market overview
Global air cargo volumes rose 11.2% year on year in February 2026, marking a further acceleration from an already strong start to the year. Growth was broad based, led by Africa and the Middle East, with Asia Pacific also posting double digit gains. Europe grew solidly, while the Americas showed more moderate momentum. Capacity kept pace with demand as belly hold recovery continued on long haul routes, and freight rates remained stable with selective, lane specific movements rather than broad directional shifts.
Ocean freight market overview
Ocean freight volumes hit 15.04 million TEUs in February 2026, the highest monthly level in five years. Trade lane divergence deepened as Far East to Europe imports rose 21% year on year, while U.S. imports fell 6.5%. Fleet capacity grew 6.4% year on year with a large orderbook still to deliver. Spot rates rebounded in mid April as Middle East conflict disrupted routing, but carriers continue to manage the supply overhang through blank sailings, slow steaming, and shorter rate validity windows.
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