What’s going on in freight — Wednesday 21 October 2026

Risk keeps spreading at sea: tankers were hit off Iraq and Oman, Russia says it struck five cargo ships on the Danube and off Odesa, and Typhoon Champi has East China’s regulators on alert. Ashore, DSV and Knight-Swift both showed that pricing for margin beats chasing volume, while air rates to the US jumped and carriers cut November capacity to prop up Asia–Europe.

War, chokepoints and disruption

• Two more tankers were hit by projectiles, one 30 nautical miles southeast of Iraq’s Al Faw on 20 October and one off Oman’s Bukha on 21 October, with all crew safe. The JMIC has raised the wider Gulf to SUBSTANTIAL, and about 383 ships sat at anchor off the UAE on 18 October. (gCaptain, Al Arabiya, UNITED24 Media) [02]
• Zhejiang’s Maritime Safety Administration, which covers Ningbo-Zhoushan, raised its typhoon response to Level III at 08:00 on 21 October, and Taiwan issued a sea warning for Champi that night. The forecast track now bends north toward Kyushu, but disruption at East China ports this weekend is still likely. (Bastille Post, Taipei Times) [03]
• Russia’s defence ministry said on 20 October it struck three cargo ships at Ukraine’s Danube port of Reni and two heading to Odesa. The same day NATO agreed to send more patrol aircraft, drones and radar to the Black Sea. (ThePrint (Reuters), Splash247) [08]

Rates and markets

• The Freightos Air Index shows China–North America air cargo up 19% in a week to $6.88/kg, and China–North Europe up 8% to $3.87/kg. November air quotes to the US need repricing now. (Freightos, KRDO/Stacker (Freight Right)) [04]
• Zencargo expects blank sailings to remove about 10% of Asia–Europe capacity through November. CMA CGM wants $4,900 per 40ft to the West Med for 1–14 November, against a Freightos spot of $3,927. (Zencargo, CMA CGM, Freightos) [05]
• Knight-Swift earned 83 cents a share in Q3, against 32 cents a year earlier, with truckload revenue per loaded mile excluding fuel up 9.7% and a fleet 4% smaller. DAT says truck posts are 21% to 27% below a year ago. (Knight-Swift (SEC), FreightWaves, AJOT) [07]

Tariffs, customs and policy

• CBP opened CAPE Phase 3 refunds on 20 October to importers that sued and gave their importer-of-record numbers between 31 July and 13 August. Later filers get access “at a later date”, with no date set. (Trade Law Daily) [06]
• US and Chinese negotiators are racing to finish investment deals before Trump and Xi meet at APEC in Shenzhen in November, the SCMP reported. The trade truce runs to 10 January, and US port fees on Chinese ships are due back on 10 November. (South China Morning Post, FreightWaves) [09]
• Ottawa and Ontario announced a CAD 8.7bn package for tariff-hit industries on 21 October, with CAD 5bn for Ontario steel mills, CAD 2.5bn for autos and stepped-up CBSA enforcement against dumped steel. (BNN Bloomberg, CP24) [10]
• A 21 October briefing urges governments to reject Japan’s proposal to scrap the IMO Net-Zero Fund, which would collect a mandatory carbon payment on ships’ fuel. The IMO meets on the framework from 30 November to 3 December. (Cyprus Shipping News) [15]

Forwarders, carriers and deals

• DSV’s Q3 EBIT before special items rose 19.5% to DKK 6.6bn while its air and ocean volumes fell 3%, about two points of it from deliberately dropping low-margin business. It also launched a DKK 1.5bn share buyback. (DSV / GlobeNewswire, The Loadstar) [01]
• CPP Investments (33.9%) and OMERS (30.0%) agreed on 21 October to sell their stakes in Associated British Ports to a fund managed by IFM Investors. ABP handles about 25% of UK seaborne trade, and the price was not disclosed. (IFM Investors) [11]
• sennder has finished integrating C.H. Robinson’s European road business and expects about €1bn of revenue in 2026, with full-year IFRS EBITDA on track to be positive. (EU-Startups) [12]

Software, AI and automation

• Freightos founder Zvi Schreiber, who holds about 6% of the shares, will ask the December shareholder meeting to remove Chairman Udo Lange. The shares are down about 78% in a year. (FreightWaves) [13]
• One driverless Kodiak truck ran 64 days without being switched off, and Tesla said volume production of its Semi began in Q3. Tesla gave no build count. (GlobeNewswire (Kodiak AI), FreightWaves) [14]

Coming up

• 23–25 October: Typhoon Champi passes Taiwan and the East China Sea; Taiwan land warning expected 22 October [03]
• 1–14 November: CMA CGM’s new Asia–Med FAK rates apply [05]
• 10 November: US port fees on Chinese ships due to return [09]
• 19 November: Drewry World Container Index reading [05]
• 23 November: Freightos full Q3 results [13]
• 30 November–3 December: IMO talks on the Net-Zero Framework [15]
• By end-2026: Kodiak’s planned driverless launch on I-45 Dallas–Houston [14]
• 10 January 2027: US–China trade truce expires unless extended [09]
• 1 February 2027: DSV’s DKK 1.5bn buyback ends [01]