What’s going on in freight

War risk is now inside the Gulf and on the Red Sea’s terms: a seafarer died on a Bahrain-bound tanker, and some ships are emailing the Houthis for transit permits. Ocean and air rates are levelling off while carriers push surcharges where they still can, and Washington is heading into Monday’s China tariff deadlines with no extension on file and more tariff threats coming.

War, chokepoints and disruption

• One seafarer died on the empty tanker Velos Sapphire after a suspected missile hit it north of Qatar on its way to Bahrain, its manager Velos Tankers said on 6 November. The IMO’s tracker now counts 129 incidents and 24 seafarer deaths in the region. (gCaptain/Reuters, Asharq Al-Awsat, Outlook India) Our story →
• Ships crossing Bab al-Mandab are emailing the Houthis for permission and getting replies within about 24 hours, with one Chinese box ship given a one-week permit, the Wall Street Journal reported on 6 November, as relayed by the Jerusalem Post. The same day Saudi Arabia intercepted two Houthi missiles aimed at Najran. (Jerusalem Post, CBS News) Our story →

Rates and markets

• The SCFI fell 1.46% to 3,633.45 on 6 November, its first drop in five weeks, and Asia–US East Coast fell $342 to $9,857 per 40ft. Drewry expects only 46 of 717 East–West sailings, or 6%, to be cancelled between 9 November and 14 December. (Liberty Times Net, Drewry) Our story →
• Global air cargo demand rose 6% year on year in October while capacity stayed flat, and the average spot rate was $3.11/kg, up 29%, Xeneta data show. Xeneta’s Niall van de Wouw said the market “showed few signs of a sudden increase in capacity pressure”. (Air Cargo News) Our story →
• CMA CGM filed five peak season surcharges on Asia–Africa cargo between 4 and 6 November, topping out at $950 per TEU from South China to the West Africa Central Range for cargo loaded from 8 November. East Africa gets $400, Mozambique $400 and Mogadishu $250. (CMA CGM, CMA CGM) Our story →

Tariffs, customs and policy

• US Trade Representative Jamieson Greer and Treasury Secretary Scott Bessent spoke with China’s Vice Premier He Lifeng on 6 November, but neither readout mentions the 178 Section 301 exclusions that lapse after 11:59pm ET on Monday 9 November, or the ship-fee pause ending that day. Without an extension, those goods pay 25% (7.5% on List 4A) from 10 November. (USTR, Al Jazeera) Our story →
• Trump told reporters on 5 November that more executive action was coming within one to two weeks, and Bloomberg reports new excess-capacity duties on more than a dozen economies could land before Democrats take Congress in January. Canada’s Carney welcomed the Democratic repeal push, but the 50% tariffs on Canadian goods have not been repealed. (CPA Practice Advisor (Bloomberg), ABC News (AP)) Our story →

Forwarders, carriers and deals

• Hapag-Lloyd has completed its purchase of a 25% stake in APM Terminals Maasvlakte II in Rotterdam after regulators cleared it without conditions, Shipping Telegraph reported on 6 November. APM Terminals keeps control of the terminal, which is expanding to 2,000m of berth and 5.4m TEU a year. (Shipping Telegraph, APM Terminals) Our story →

Software, AI and automation

• Two US electric truck makers raised $291 million on 5 November: Harbinger $240 million for medium-duty delivery trucks, and Humble Robotics $51 million for a cabless container hauler. FedEx has ordered 2,000 Harbinger trucks worth more than $300 million, due by end-2027. (FreightWaves, FreightWaves) Our story →
• Zipline raised $1.5 billion at a $21.5 billion valuation on 5 November, and Walmart agreed to add 300 US drone sites to the 21 the two run today. Walmart has given no timeline or list of areas. (TechCrunch, FreightWaves) Our story →

Coming up

• Sunday 8 November: CMA CGM’s China–West Africa peak season surcharges start for cargo loaded from this date Our story →
• Monday 9 November, 11:59pm ET: 178 China Section 301 exclusions expire, and the US port-fee pause on Chinese-linked ships ends Our story →
• 9 November to 14 December: Drewry’s blank-sailing window for weeks 46–50 Our story →
• 10 November: CMA CGM’s South China–Mozambique and South China–East Africa surcharges start Our story →
• 15 November: CMA CGM’s South East Asia–West Africa, China–Mogadishu and North/Central China–East Africa surcharges start Our story →
• Around 19 November: Drewry’s week-47 World Container Index reading Our story →
• January 2027: the new Democratic-controlled Congress sits Our story →