The Worst of Times

In this week’s Roar: Worry about further supply chain disruptions, lost focus on the U.S. maritime sector, air freight rates rising, a return to the Suez Canal, and surging cargo theft.

It‘s probably no surprise that a recent survey of about 6,000 companies spread across 13 countries found that nearly two-thirds of them worry about further supply chain disruptions, including increasing energy and commodity costs because of the Iran war. Geopolitical risks have emerged as the top concern for firms, prompting them to ramp up reshoring and nearshoring, especially in Europe. Companies are stockpiling more inventory and prioritizing resilience over just-in-time efficiency as persistent shocks continue to reshape global trade.

FMC Chair Laura DiBella is warning that the U.S. has lost focus on the maritime sector, which historically has been seen as the first step in the global supply chain. In the face of rising crises, whether that’s the Middle East or snarled canal traffic, she’s stressing the need for transparency, tailored regulation, and renewed investment. DiBella points out growing challenges from carrier vertical integrations and urges shippers to use the FMC’s expert guidance to sort through mounting maritime complexities and ongoing regulatory changes.

Air freight rates continue to surge despite falling demand, with spot rates up 37% year-on-year on a per-kilo basis due to ongoing capacity constraints and soaring jet fuel costs following the war in Iran. Capacity has rebounded a bit since the beginning of the conflict, but supply remains tight, especially from the Middle East, which is keeping prices high amid ongoing geopolitical uncertainty.

After months of false starts, CMA CGM is testing a return to the Suez Canal for its new Asia–North Europe Ocean Rise Express service. This will be the first westbound container loop via the Red Sea since carriers began diverting in December 2023. It’s not a full market shift, but it does signal cautious optimism for restoring the faster route. Let’s hope this becomes the trend.

Global cargo theft is way up, according to the 2025 TT Club and BSI Consulting Report. Criminal networks are using sophisticated physical, digital, and insider tactics. Countries most affected include Brazil, Mexico, India, the U.S., and China. Trucks accounted for 70% of the thefts, but cyber-enabled fraud and warehouse targeting are also on the rise, underscoring the urgent need for stronger intelligence-driven risk management.

For the rest of the week’s top shipping news, check out the article highlights below.