Global Freight Update: May 2026 🌍
Fuel is still the story.
While parts of the freight market are showing signs of stabilising, global supply chains remain under pressure from higher fuel costs, Middle East disruption, carrier schedule changes and ongoing uncertainty across key trade lanes.
Here’s what we’re seeing in May:
🌊 Ocean Freight
Drewry’s World Container Index increased 3% in early May to US$2,286 per 40ft container, after three consecutive weeks of decline, with increases across Transpacific and Asia-Europe lanes.
At the same time, blank sailings, network changes, Southeast Asia hub congestion and vessel displacement linked to the Middle East continue to affect schedule reliability.
✈️ Air Freight
Air cargo rates are beginning to plateau after several weeks of pressure, but capacity remains sensitive to Middle East airspace restrictions and changing routing conditions.
⛽ Fuel & Cost Pressure
This remains the major issue for Australian supply chains.
The ACCC’s latest fuel monitoring shows petrol and diesel prices have eased slightly after recent volatility, but fuel remains a live cost risk for transport operators.
The Fair Work Commission’s new fuel cost recovery order also came into effect from 21 April 2026, reflecting just how significant fuel cost pressure has become across Australian road transport.
🚛 What this means for importers and exporters
- Freight costs remain difficult to forecast
- Fuel surcharges need to be watched closely
- Schedule reliability is still not back to normal
- Planning early is more important than chasing the cheapest rate
The market may look calmer on the surface, but underneath it there is still a lot moving.
At Bluestar Global Logistics, we’re working closely with our customers and global partners to manage these conditions, communicate early, and keep freight moving as smoothly as possible.
If you have freight moving over the coming weeks, now is the time to review your timelines, costs and options.