With the first half of 2026 now behind us, the Asia–Latin America market is entering a new phase. The extraordinary surge in demand and freight rates witnessed over the past two months is gradually easing as carriers restore capacity and market fundamentals rebalance. Nevertheless, the arrival of the traditional third-quarter shipping season, together with year-end inventory replenishment across Latin America, is expected to provide continued support for the market. While freight rates have started to soften, a significant correction is unlikely in the near term as demand remains fundamentally healthy across most trade lanes.
To support your planning and customer discussions, please find our latest market observations for the first half of July.
Freight Rate Outlook
Following two consecutive months of upward adjustments, the market has started to soften entering July. Carriers have become increasingly flexible on pricing as additional capacity enters the market and booking pressure gradually eases.
The Caribbean remains the strongest-performing sub-market, where freight levels continue to receive support from robust U.S.-related cargo flows and relatively tighter vessel utilization.
Freight levels to both the West Coast of South America (WCSA) and East Coast of South America (ECSA) have entered a downward adjustment phase as available space improves and carriers actively compete for cargo.
Based on current booking trends and scheduled capacity deployment, further moderate rate adjustments are expected throughout the remainder of the first half of July. However, the traditional Q3 peak season and year-end inventory replenishment are expected to prevent any sharp decline in market levels.
For larger volume shipments or project cargo, we encourage partners to contact our pricing team directly. Market conditions remain highly negotiable, and tailored solutions are available depending on shipment profile, carrier selection and equipment requirements.
Capacity and Service Developments
Space availability has improved significantly across most Latin American trade lanes compared with June. The only markets continuing to experience tighter conditions are Panama and the Caribbean, where demand remains comparatively stronger.
Carriers are actively seeking additional cargo on services to Mexico, Guatemala and Brazil, providing greater booking flexibility and more competitive scheduling options for origin shipments.
Several network adjustments will take effect during the first half of July:
ZIM’s ZCP service will temporarily suspend Mexico port calls.
OOCL will suspend its TLP8 service connecting Shanghai, Qingdao, Ensenada and Manzanillo during the first half of July.
MSC has restructured both its SIERRA and MEXICAS services by adjusting China loading ports while expanding destination coverage to better optimize network efficiency.
CMA CGM has added Qingdao as a new loading port on its M2X service, providing additional export opportunities from North China.
Additional capacity continues to be introduced despite the softer market. ONE and HMM have jointly launched an extra loader service to Mexico, offering improved booking opportunities and attractive transit times into Lazaro Cardenas and Manzanillo.
On the East Coast South America trade, ZIM will deploy an extra loader connecting North China, Shanghai, Hong Kong and South China directly to Brazil, Uruguay and Argentina. We are currently consolidating cargo for this sailing and expect to secure attractive commercial support from the carrier.
Looking further ahead, ZIM has officially announced the launch of its new Falcon Service beginning in September. The new standalone service will provide one of the fastest transit times from South China to Brazil and Argentina while significantly enhancing direct connections between Asia and the River Plate region. The service will also strengthen reefer capacity, dangerous goods handling and oversized cargo capabilities, creating additional long-term options for exporters.
Market Drivers and Industry Developments
Although freight markets are softening, underlying cargo demand remains resilient. Importers across Latin America continue preparing inventories ahead of the second half of the year, while many retailers remain cautious over potential changes in global trade policies and shipping costs.
Global container carriers continue to actively adjust service networks instead of removing significant capacity. Rather than widespread blank sailings, shipping lines are focusing on optimizing rotations, adding strategic port calls and deploying extra loaders to capture cargo opportunities in stronger-performing markets. This reflects growing confidence in sustained trade volumes during the upcoming peak season.
Operational reliability has continued to improve compared with earlier this year. Fewer blank sailings, improved equipment positioning and better vessel schedule integrity are contributing to more predictable cargo planning across Asia export gateways. Nevertheless, localized congestion and schedule adjustments may still occur as carriers fine-tune their networks throughout the summer months.
While the market is transitioning into a more balanced environment, flexibility remains essential. Different Latin American sub-regions are responding differently to changes in capacity and demand, making carrier selection and routing strategy increasingly important for achieving both cost efficiency and schedule reliability.
As always, our Latin America Trade and Pricing teams continue to monitor carrier developments, service adjustments and market movements on a daily basis. Should you have any upcoming shipments or require the latest market intelligence, please feel free to reach out to your RS Logistics representative. We remain committed to providing timely market updates, competitive solutions and reliable execution as we move further into the peak shipping season.
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