What’s going on in freight — Saturday 24 October 2026

The Gulf war is still the story: Iran now says Hormuz is shut to ships it calls “non-compliant”, and Houthi missiles are aimed at Yanbu, the Red Sea end of Saudi Arabia’s pipeline around the strait. Elsewhere, a one-day anti-war dock strike is set for Friday 30 October, Washington’s diesel measures have not moved the pump price, and air cargo is being priced off old freighters and expensive fuel.

War, chokepoints and disruption

• Iran’s military chief said on 24 October that US warships will not be allowed in the Gulf “under any circumstances and at any time”, a day after state TV said “non-compliant” ships had been “completely halted” in Hormuz. The Washington Institute counts 28 attacks on ships in October, the most of any month on record. CBS News, IBTimes Australia [01]
• On 24 October the Saudi-led coalition said it shot down Houthi missiles aimed at Yanbu, Taif and Riyadh. The Houthis claim, without confirmation, that they hit the East-West pipeline, which Aramco says can now carry 7 million barrels a day around Hormuz. Egypt’s parliament votes on Monday 26 October on sending forces to Saudi Arabia. The Peninsula, Gulf News, NewsCord [02]
• Dockworker unions plan a one-day strike on Friday 30 October. Italy’s USB union says about 100 ports in 17 countries will take part, including Genoa, Gioia Tauro, Piraeus, Tangier and Mersin, and estimates about 40,000 containers could be stuck for the day. Italy also has a general strike that day. Porto Livorno, Primocanale [03]

Rates and markets

• The White House invoked the Defense Production Act for oil refining on 22 October, and the first Russian diesel cargo under the Trump-Putin deal loaded at Primorsk the same day. It holds about 300,000 barrels, roughly 7% of one day’s US diesel use, and reaches New York on 7 November. US diesel is still $6.28 a gallon (EIA). AJOT/Reuters, FreightWaves [04]
• Airbus forecast on 21 October that the world freighter fleet will grow 46% to 3,460 aircraft by 2045. That needs 2,670 new freighters, but 1,580 of them only replace ageing aircraft, and the A350F does not arrive until late 2027. FreightWaves, AirDataNews [05]

Forwarders, carriers and deals

• American Airlines made $274m from cargo in Q3, up 29.1%, and Delta’s cargo revenue also rose 29%, to $301m. American’s fuel bill rose $1.9bn in the quarter. American Airlines (SEC 8-K), Cargo Facts, Cargo Newswire [06]

Coming up

• Monday 26 October: Egypt’s parliament votes on sending forces to defend Saudi Arabia.
• Tuesday 27 October: Werner reports Q3 results.
• Friday 30 October: international one-day dock strike; general strike in Italy.
• Tuesday 3 November: US midterm elections.
• Saturday 7 November: first Russian diesel cargo due in New York.
• Next week: Boeing publishes its own freighter forecast.