<p data-path-to-node="5" id="p-rc_880965641cfeb193-350" style="font-family: &quot;Google Sans Text&quot;, sans-serif !important; line-height: 1.15 !important;"><span data-path-to-node="5,0" style="line-height: 1.15 !important;"><b data-path-to-node="5,0" data-index-in-node="0" style="line-height: 1.15 !important;">LONDON / SINGAPORE / LOS ANGELES</b> — Global seaborne container shipping activity has officially entered unchartered statistical territory today, as international container liftings and port throughput indices registered an all-time monthly record</span><span data-path-to-node="5,1" style="line-height: 1.15 !important;"><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><source-footnote _nghost-ng-c1038807051="" class="ng-star-inserted" style="line-height: 1.15 !important;"><sup _ngcontent-ng-c1038807051="" class="superscript" style="line-height: 1.15 !important; font-size: 16px !important; background-color: transparent !important;"><!----></sup></source-footnote><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----></span><span data-path-to-node="5,2" style="line-height: 1.15 !important;">. Driven by an aggressive, prolonged pre-holiday replenishment cycle and sustained enterprise inventory front-loading across North America and Europe, aggregate worldwide liftings pushed past prior mid-summer and pandemic-era peaks</span><span data-path-to-node="5,3" style="line-height: 1.15 !important;"><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><source-footnote _nghost-ng-c1038807051="" class="ng-star-inserted" style="line-height: 1.15 !important;"><sup _ngcontent-ng-c1038807051="" class="superscript" style="line-height: 1.15 !important; font-size: 16px !important; background-color: transparent !important;"><!----></sup></source-footnote><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----></span><span data-path-to-node="5,4" style="line-height: 1.15 !important;">.</span><sources-carousel-inline ng-version="0.0.0-PLACEHOLDER" _nghost-ng-c4215399780="" style="line-height: 1.15 !important;"><!----></sources-carousel-inline></p><p data-path-to-node="6" id="p-rc_880965641cfeb193-351" style="font-family: &quot;Google Sans Text&quot;, sans-serif !important; line-height: 1.15 !important;"><span data-path-to-node="6,0" style="line-height: 1.15 !important;">According to updated maritime intelligence data published by Container Trades Statistics (CTS) and aggregated terminal operations indices, global monthly container moves eclipsed <b data-path-to-node="6,0" data-index-in-node="179" style="line-height: 1.15 !important;">16.8 million TEUs</b> (Twenty-Foot Equivalent Units)</span><span data-path-to-node="6,1" style="line-height: 1.15 !important;"><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><source-footnote _nghost-ng-c1038807051="" class="ng-star-inserted" style="line-height: 1.15 !important;"><sup _ngcontent-ng-c1038807051="" class="superscript" style="line-height: 1.15 !important; font-size: 16px !important; background-color: transparent !important;"><!----></sup></source-footnote><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----></span><span data-path-to-node="6,2" style="line-height: 1.15 !important;">. The milestone follows robust first-half volume expansion of 5.2% year-on-year</span><span data-path-to-node="6,3" style="line-height: 1.15 !important;"><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><source-footnote _nghost-ng-c1038807051="" class="ng-star-inserted" style="line-height: 1.15 !important;"><sup _ngcontent-ng-c1038807051="" class="superscript" style="line-height: 1.15 !important; font-size: 16px !important; background-color: transparent !important;"><!----></sup></source-footnote><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----></span><span data-path-to-node="6,4" style="line-height: 1.15 !important;">, proving that despite extensive trade friction, prolonged vessel diversions around southern Africa, and shifting tariff timelines, underlying macro consumption and global merchandise flows continue to defy expectations</span><span data-path-to-node="6,5" style="line-height: 1.15 !important;"><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><source-footnote _nghost-ng-c1038807051="" class="ng-star-inserted" style="line-height: 1.15 !important;"><sup _ngcontent-ng-c1038807051="" class="superscript" style="line-height: 1.15 !important; font-size: 16px !important; background-color: transparent !important;"><!----></sup></source-footnote><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----></span><span data-path-to-node="6,6" style="line-height: 1.15 !important;">.</span><sources-carousel-inline ng-version="0.0.0-PLACEHOLDER" _nghost-ng-c4215399780="" style="line-height: 1.15 !important;"><!----></sources-carousel-inline></p><h4 data-path-to-node="8" style="font-family: &quot;Google Sans&quot;, sans-serif !important; line-height: 1.15 !important;"><b>The Core Drivers: Extended Front-Loading &amp; Dual-Peak Dynamics</b></h4><p data-path-to-node="9" style="font-family: &quot;Google Sans Text&quot;, sans-serif !important; line-height: 1.15 !important;">Maritime economists identify two compounding commercial dynamics behind the historic volume crest:</p><ul data-path-to-node="10" style="padding-inline-start: 32px; font-family: &quot;Google Sans Text&quot;, sans-serif !important; line-height: 1.15 !important;"><li style="line-height: 1.15 !important;"><p data-path-to-node="10,0,0" id="p-rc_880965641cfeb193-352" style="line-height: 1.15 !important;"><span data-path-to-node="10,0,0,0" style="line-height: 1.15 !important;"><b data-path-to-node="10,0,0,0" data-index-in-node="0" style="line-height: 1.15 !important;">The Extended Restocking Tail:</b> Rather than experiencing a sharp post-July volume cliff, procurement desks across major multinational retail, consumer appliance, and apparel chains maintained aggressive shipping orders through August into early September</span><span data-path-to-node="10,0,0,1" style="line-height: 1.15 !important;"><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><source-footnote _nghost-ng-c1038807051="" class="ng-star-inserted" style="line-height: 1.15 !important;"><sup _ngcontent-ng-c1038807051="" class="superscript" style="line-height: 1.15 !important; font-size: 16px !important; background-color: transparent !important;"><!----></sup></source-footnote><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----></span><span data-path-to-node="10,0,0,2" style="line-height: 1.15 !important;">. Importers moved aggressively to insulate fourth-quarter product pipelines against inland rail bottlenecks, warehouse saturation, and volatile oceanic chokepoints</span><span data-path-to-node="10,0,0,3" style="line-height: 1.15 !important;"><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><source-footnote _nghost-ng-c1038807051="" class="ng-star-inserted" style="line-height: 1.15 !important;"><sup _ngcontent-ng-c1038807051="" class="superscript" style="line-height: 1.15 !important; font-size: 16px !important; background-color: transparent !important;"><!----></sup></source-footnote><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----></span><span data-path-to-node="10,0,0,4" style="line-height: 1.15 !important;">.</span><sources-carousel-inline ng-version="0.0.0-PLACEHOLDER" _nghost-ng-c4215399780="" style="line-height: 1.15 !important;"><!----></sources-carousel-inline></p></li><li style="line-height: 1.15 !important;"><p data-path-to-node="10,1,0" id="p-rc_880965641cfeb193-353" style="line-height: 1.15 !important;"><span data-path-to-node="10,1,0,0" style="line-height: 1.15 !important;"><b data-path-to-node="10,1,0,0" data-index-in-node="0" style="line-height: 1.15 !important;">Pre-Golden Week Cargo Sprints:</b> Outbound export corridors from East Asia—particularly Ningbo-Zhoushan, Shanghai, Yantian, and Busan—have operated at near-maximum loading limits as manufacturers rush to clear export drayage before the impending Chinese National Day Golden Week factory shutdowns</span><span data-path-to-node="10,1,0,1" style="line-height: 1.15 !important;"><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><source-footnote _nghost-ng-c1038807051="" class="ng-star-inserted" style="line-height: 1.15 !important;"><sup _ngcontent-ng-c1038807051="" class="superscript" style="line-height: 1.15 !important; font-size: 16px !important; background-color: transparent !important;"><!----></sup></source-footnote><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----></span><span data-path-to-node="10,1,0,2" style="line-height: 1.15 !important;">.</span><sources-carousel-inline ng-version="0.0.0-PLACEHOLDER" _nghost-ng-c4215399780="" style="line-height: 1.15 !important;"><!----></sources-carousel-inline></p></li><li style="line-height: 1.15 !important;"><p data-path-to-node="10,2,0" id="p-rc_880965641cfeb193-354" style="line-height: 1.15 !important;"><span data-path-to-node="10,2,0,0" style="line-height: 1.15 !important;"><b data-path-to-node="10,2,0,0" data-index-in-node="0" style="line-height: 1.15 !important;">Emerging Market Sourcing Growth:</b> Alongside arterial East-West headhaul corridors, regional volumes into Latin America, the Middle East, and Sub-Saharan Africa expanded at double-digit rates, injecting additional baseline container demand into global trading loops</span><span data-path-to-node="10,2,0,1" style="line-height: 1.15 !important;"><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><source-footnote _nghost-ng-c1038807051="" class="ng-star-inserted" style="line-height: 1.15 !important;"><sup _ngcontent-ng-c1038807051="" class="superscript" style="line-height: 1.15 !important; font-size: 16px !important; background-color: transparent !important;"><!----></sup></source-footnote><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----></span><span data-path-to-node="10,2,0,2" style="line-height: 1.15 !important;">.</span></p></li></ul><h4 data-path-to-node="15" style="font-family: &quot;Google Sans&quot;, sans-serif !important; line-height: 1.15 !important;"><b>Infrastructure Pressures: Terminal Yards and Container Asset Strains</b></h4><p data-path-to-node="16" id="p-rc_880965641cfeb193-368" style="font-family: &quot;Google Sans Text&quot;, sans-serif !important; line-height: 1.15 !important;"><span data-path-to-node="16,0" style="line-height: 1.15 !important;">While the record volume milestone reflects strong commercial demand, it is severely testing quayside and inland handling limits across key logistics corridors</span><span data-path-to-node="16,1" style="line-height: 1.15 !important;"><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><source-footnote _nghost-ng-c1038807051="" class="ng-star-inserted" style="line-height: 1.15 !important;"><sup _ngcontent-ng-c1038807051="" class="superscript" style="line-height: 1.15 !important; font-size: 16px !important; background-color: transparent !important;"><!----></sup></source-footnote><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----></span><span data-path-to-node="16,2" style="line-height: 1.15 !important;">:</span><sources-carousel-inline ng-version="0.0.0-PLACEHOLDER" _nghost-ng-c4215399780="" style="line-height: 1.15 !important;"><!----></sources-carousel-inline></p><ol start="1" data-path-to-node="17" style="padding-inline-start: 32px; font-family: &quot;Google Sans Text&quot;, sans-serif !important; line-height: 1.15 !important;"><li style="line-height: 1.15 !important;"><p data-path-to-node="17,0,0" id="p-rc_880965641cfeb193-369" style="line-height: 1.15 !important;"><span data-path-to-node="17,0,0,0" style="line-height: 1.15 !important;"><b data-path-to-node="17,0,0,0" data-index-in-node="0" style="line-height: 1.15 !important;">Elevated Yard Stacking Densities:</b> With mega-containerships offloading larger container parcel exchanges per call, container yards at major transshipment gateways—including Singapore, Port Klang, and Western Mediterranean nodes—are hovering near the critical 85% yard saturation threshold, which slows down crane productivity</span><span data-path-to-node="17,0,0,1" style="line-height: 1.15 !important;"><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><source-footnote _nghost-ng-c1038807051="" class="ng-star-inserted" style="line-height: 1.15 !important;"><sup _ngcontent-ng-c1038807051="" class="superscript" style="line-height: 1.15 !important; font-size: 16px !important; background-color: transparent !important;"><!----></sup></source-footnote><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----></span><span data-path-to-node="17,0,0,2" style="line-height: 1.15 !important;">.</span><sources-carousel-inline ng-version="0.0.0-PLACEHOLDER" _nghost-ng-c4215399780="" style="line-height: 1.15 !important;"><!----></sources-carousel-inline></p></li><li style="line-height: 1.15 !important;"><p data-path-to-node="17,1,0" id="p-rc_880965641cfeb193-370" style="line-height: 1.15 !important;"><span data-path-to-node="17,1,0,0" style="line-height: 1.15 !important;"><b data-path-to-node="17,1,0,0" data-index-in-node="0" style="line-height: 1.15 !important;">Container Equipment Dispersion:</b> Because record volumes were front-loaded rapidly into Western import basins, empty container return loops have lagged</span><span data-path-to-node="17,1,0,1" style="line-height: 1.15 !important;"><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><source-footnote _nghost-ng-c1038807051="" class="ng-star-inserted" style="line-height: 1.15 !important;"><sup _ngcontent-ng-c1038807051="" class="superscript" style="line-height: 1.15 !important; font-size: 16px !important; background-color: transparent !important;"><!----></sup></source-footnote><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----></span><span data-path-to-node="17,1,0,2" style="line-height: 1.15 !important;">. Exporters in India, Vietnam, and inland China continue to face localized deficits of 40-foot High-Cube (HC) containers, prompting ocean carriers to levy equipment repositioning surcharges to bring empties back east</span><span data-path-to-node="17,1,0,3" style="line-height: 1.15 !important;"><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><source-footnote _nghost-ng-c1038807051="" class="ng-star-inserted" style="line-height: 1.15 !important;"><sup _ngcontent-ng-c1038807051="" class="superscript" style="line-height: 1.15 !important; font-size: 16px !important; background-color: transparent !important;"><!----></sup></source-footnote><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----></span><span data-path-to-node="17,1,0,4" style="line-height: 1.15 !important;">.</span><sources-carousel-inline ng-version="0.0.0-PLACEHOLDER" _nghost-ng-c4215399780="" style="line-height: 1.15 !important;"><!----></sources-carousel-inline></p></li><li style="line-height: 1.15 !important;"><p data-path-to-node="17,2,0" id="p-rc_880965641cfeb193-371" style="line-height: 1.15 !important;"><span data-path-to-node="17,2,0,0" style="line-height: 1.15 !important;"><b data-path-to-node="17,2,0,0" data-index-in-node="0" style="line-height: 1.15 !important;">Inland Drayage &amp; Intermodal Bottlenecks:</b> At primary North American and European entry gates, inland rail connections and warehousing facilities are absorbing record container inflows</span><span data-path-to-node="17,2,0,1" style="line-height: 1.15 !important;"><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><source-footnote _nghost-ng-c1038807051="" class="ng-star-inserted" style="line-height: 1.15 !important;"><sup _ngcontent-ng-c1038807051="" class="superscript" style="line-height: 1.15 !important; font-size: 16px !important; background-color: transparent !important;"><!----></sup></source-footnote><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----></span><span data-path-to-node="17,2,0,2" style="line-height: 1.15 !important;">. Dwell times for containers awaiting rail cars to interior industrial hubs (such as Chicago, Memphis, and Duisburg) have stretched from standard 48-hour turnarounds to four to six days</span><span data-path-to-node="17,2,0,3" style="line-height: 1.15 !important;"><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><source-footnote _nghost-ng-c1038807051="" class="ng-star-inserted" style="line-height: 1.15 !important;"><sup _ngcontent-ng-c1038807051="" class="superscript" style="line-height: 1.15 !important; font-size: 16px !important; background-color: transparent !important;"><!----></sup></source-footnote><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----></span><span data-path-to-node="17,2,0,4" style="line-height: 1.15 !important;">.</span><sources-carousel-inline ng-version="0.0.0-PLACEHOLDER" _nghost-ng-c4215399780="" style="line-height: 1.15 !important;"><!----></sources-carousel-inline></p></li></ol><h4 data-path-to-node="19" style="font-family: &quot;Google Sans&quot;, sans-serif !important; line-height: 1.15 !important;"><b>Near-Term Market Outlook</b></h4><p data-path-to-node="20" id="p-rc_880965641cfeb193-372" style="font-family: &quot;Google Sans Text&quot;, sans-serif !important; line-height: 1.15 !important;"><span data-path-to-node="20,0" style="line-height: 1.15 !important;">Ocean freight analysts emphasize that while container volumes have hit historic highs, the market's pricing dynamics differ markedly from the unconstrained rate spikes of 2021–2022</span><span data-path-to-node="20,1" style="line-height: 1.15 !important;"><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><source-footnote _nghost-ng-c1038807051="" class="ng-star-inserted" style="line-height: 1.15 !important;"><sup _ngcontent-ng-c1038807051="" class="superscript" style="line-height: 1.15 !important; font-size: 16px !important; background-color: transparent !important;"><!----></sup></source-footnote><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----></span><span data-path-to-node="20,2" style="line-height: 1.15 !important;">. A substantial wave of newly delivered ultra-large container vessels (ULCVs) from shipbuilders in China and South Korea has continuously injected structural capacity into the market</span><span data-path-to-node="20,3" style="line-height: 1.15 !important;"><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><source-footnote _nghost-ng-c1038807051="" class="ng-star-inserted" style="line-height: 1.15 !important;"><sup _ngcontent-ng-c1038807051="" class="superscript" style="line-height: 1.15 !important; font-size: 16px !important; background-color: transparent !important;"><!----></sup></source-footnote><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----></span><span data-path-to-node="20,4" style="line-height: 1.15 !important;">.</span><sources-carousel-inline ng-version="0.0.0-PLACEHOLDER" _nghost-ng-c4215399780="" style="line-height: 1.15 !important;"><!----></sources-carousel-inline></p><p data-path-to-node="21" id="p-rc_880965641cfeb193-373" style="font-family: &quot;Google Sans Text&quot;, sans-serif !important; line-height: 1.15 !important;"><span data-path-to-node="21,0" style="line-height: 1.15 !important;">Consequently, while spot freight rates remain firmly anchored above pre-crisis baselines, carrier capacity management—via selective blank sailings and extra loaders—has prevented an uncontrollable pricing spiral, allowing shippers to move peak holiday volumes under comparatively stable, though elevated, landed transportation budgets.</span></p>