Market Update — July 2026
July 10,2026
A brief overview of what's currently shaping the container shipping market
The past few weeks have brought several developments worth flagging for anyone shipping freight internationally. Here's a short round-up.
Hapag-Lloyd / ZIM: Deal Under Pressure
The proposed USD 4.2 billion acquisition of ZIM by Hapag-Lloyd — announced back in February and approved by ZIM shareholders in April — has run into political headwinds in Israel. Reports indicate that Israel's Defense Ministry has recommended opposing the deal in its current structure, and Prime Minister of Israel is said to have described the sale as "not currently on the agenda." Central to the dispute is Israel's "Golden Share" in ZIM, which gives the state veto rights over ownership changes affecting national security — and concerns have reportedly been raised over shareholdings in Hapag-Lloyd. ZIM's share price has fallen sharply on the news. Whether the deal proceeds as planned, gets restructured, or collapses remains to be seen — we'll keep you posted as the situation develops.
Freight Rates on the Rise Again
After a relatively calmer spring, ocean freight rates have started climbing once more. Drewry's World Container Index reached roughly USD 4,530 per 40ft container in early July, with increases across both the Transpacific and Asia–Europe trades. The drivers are familiar: continued uncertainty around Red Sea routing, shippers front-loading cargo ahead of looming US tariff deadlines, and typical mid-year demand pressure. We'd recommend booking with a bit more lead time where possible, particularly on Asia-origin lanes.
Customs: ICS2 Release 3 Now Fully in Force
Since 1 June 2026, the EU's Import Control System 2 (ICS2) has moved to its third and final rollout phase across all member states. This tightens requirements for pre-arrival cargo data — including accurate product classification and complete Entry Summary Declarations. Incomplete or inaccurate filings can now result in cargo holds and delays at the border. If you haven't already reviewed your data and documentation processes with your logistics partners, now is a good time to do so — we're happy to help check that your shipments are compliant.
Red Sea / Suez: A Cautious Return, Not a Resolution
Some carriers have begun testing a return to Suez routings after an extended period of diversion around the Cape of Good Hope, signalling a tentative step toward normalisation. That said, the security situation in the region remains unresolved, and routing decisions are still being made on a case-by-case, sailing-by-sailing basis. We continue to monitor developments closely and will advise on routing implications as they affect specific bookings.
As always, if any of these developments raise questions about your specific shipments or supply chain, don't hesitate to reach out to your usual contact at O. Brunoni SA.
Your Brunoni-Team