<div class="phx-topic abstract-wrapper">Photo ony. </div>

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Maritime

BARGING INTO NORTH CAROLINA

<div class="phx-topic abstract-wrapper">The new surcharges will be introduced immediately on cargo to and from specific locations in the Caribbean and South America before being progressively rolled out in other regions globally.</div>

The new surcharges will be introduced immediately on cargo to and from specific locations in the Caribbean and South America before being progressively rolled out in other regions globally.

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<div class="phx-topic">Hapag-Lloyd is widening its imposition of emergency bunker fuel surcharges to cover the extra fuel levies it is now being charged by third-party feeder and barge operators to offset oil prices driven higher by the war in the Middle East. The new surcharges, announced by the carrier Tuesday, will be introduced immediately on cargo to and from specific locations in the Caribbean and South America before being progressively rolled out in other regions globally. Hapag said the surcharges, varying between $50 and $150 per TEU, will be applied both as an emergency operations charge at origin (EOO) and an emergency operations charge at destination (EOD). It comes a month after Hapag-Lloyd CEO Rolf Habben Jansen said the war <a href="https://www.joc.com/article/war-adding-40-50-million-per-week-to-hapag-lloyds-costs-ceo-6193532">has raised the carrier’s operating costs by $40 million to $50 million per week</a>. Hapag-Lloyd is thought to be the first carrier to announce such a measure, as other lines including Maersk, Mediterranean Shipping Co. and CMA CGM have yet to confirm their own fuel surcharges on feedered cargo. The new charges are in addition to the standard emergency fuel surcharge (EFS) Hapag-Lloyd already charges customers. “We are now facing explicit charges from our third-party feeder operators,” the carrier said in a customer advisory. “As the EFS covers incremental fuel costs within Hapag-Lloyd-operated services, these additional third-party charges require a separate surcharge.” Bunker prices doubled at key hubs after war began Cargo at Zarate, Argentina, will attract the lowest surcharge while cargo at locations including Punta Arenas in Chile, and Caribbean islands such as the US Virgin Islands, Bahamas, Dominica, Saint Lucia, and Bonaire will have the highest levy. Hapag-Lloyd said the surcharge will apply to trades not regulated by the US Federal Maritime Commission from April 21, and beginning May 21 for FMC-regulated trades plus Ecuador and Colombia. The FMC requires a 30-day notice period for surcharges implemented on US trades, and has <a href="https://www.joc.com/article/fmc-again-rejects-maersk-petition-to-waive-notice-period-for-emergency-fuel-surcharge-6199261">rejected recent requests by ocean carriers to have the waiting period waived</a>. The introduction of the levy comes just weeks after some feeder operators in the Caribbean increased bunker surcharges in response to fuel prices that have been driven higher by the war in the Middle East and the closure of the Strait of Hormuz, through which 20% of the world’s crude oil supplies typically transit each day. Bunker fuel prices at some of the world’s key hubs roughly doubled in the days after the war began on Feb. 28 Tropical Shipping, which operates 17 feeder ships on services in Latin America, doubled bunker surcharges on April 12 on Caribbean and South American services to $200 for a 20-foot container and $400 for a 40-foot box. Contact Keith Wallis on <a href="mailto:keith.wallis@hotmail.com">keithwallis@hotmail.com</a>. </div>

Hapag-Lloyd is widening its imposition of emergency bunker fuel surcharges to cover the extra fuel levies it is now being charged by third-party feeder and barge operators to offset oil prices driven higher by the war in the Middle East. The new surcharges, announced by the carrier Tuesday, will be introduced immediately on cargo to and from specific locations in the Caribbean and South America before being progressively rolled out in other regions globally. Hapag said the surcharges, varying between $50 and $150 per TEU, will be applied both as an emergency operations charge at origin (EOO) and an emergency operations charge at destination (EOD). It comes a month after Hapag-Lloyd CEO Rolf Habben Jansen said the war has raised the carrier’s operating costs by $40 million to $50 million per week . Hapag-Lloyd is thought to be the first carrier to announce such a measure, as other lines including Maersk, Mediterranean Shipping Co. and CMA CGM have yet to confirm their own fuel surcharges on feedered cargo. The new charges are in addition to the standard emergency fuel surcharge (EFS) Hapag-Lloyd already charges customers. “We are now facing explicit charges from our third-party feeder operators,” the carrier said in a customer advisory. “As the EFS covers incremental fuel costs within Hapag-Lloyd-operated services, these additional third-party charges require a separate surcharge.” Bunker prices doubled at key hubs after war began Cargo at Zarate, Argentina, will attract the lowest surcharge while cargo at locations including Punta Arenas in Chile, and Caribbean islands such as the US Virgin Islands, Bahamas, Dominica, Saint Lucia, and Bonaire will have the highest levy. Hapag-Lloyd said the surcharge will apply to trades not regulated by the US Federal Maritime Commission from April 21, and beginning May 21 for FMC-regulated trades plus Ecuador and Colombia. The FMC requires a 30-day notice period for surcharges implemented on US trades, and has rejected recent requests by ocean carriers to have the waiting period waived . The introduction of the levy comes just weeks after some feeder operators in the Caribbean increased bunker surcharges in response to fuel prices that have been driven higher by the war in the Middle East and the closure of the Strait of Hormuz, through which 20% of the world’s crude oil supplies typically transit each day. Bunker fuel prices at some of the world’s key hubs roughly doubled in the days after the war began on Feb. 28 Tropical Shipping, which operates 17 feeder ships on services in Latin America, doubled bunker surcharges on April 12 on Caribbean and South American services to $200 for a 20-foot container and $400 for a 40-foot box. Contact Keith Wallis on keithwallis@hotmail.com .

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Hapag-Lloyd imposes emergency fuel surcharges on third-party feeder cargo

<div class="phx-topic abstract-wrapper">The war in the Middle East is the latest example of geopolitical conflicts that will mark the shipping landscape for at least the rest of the decade, attendees at Breakbulk26 were told.</div>

The war in the Middle East is the latest example of geopolitical conflicts that will mark the shipping landscape for at least the rest of the decade, attendees at Breakbulk26 were told.

<div class="phx-topic">New Orleans — The ongoing war in the Middle East is the latest example that geopolitical conflicts disrupting shipping will be the norm for the rest of the decade, a geopolitical analyst said Tuesday. José Enrique Sevilla-Macip, an S&amp;P Global senior research analyst, said that while Iran and the US both want to decelerate tensions, boding well for the renewal of a two week-ceasefire by the Wednesday night deadline, there’s little chance of normalization in the Middle East this year. S&amp;P Global expects crude oil prices – which were trading over $98 per barrel Tuesday afternoon – to fall to about $70/barrel by the end of the year after peaking in the second quarter. “But we are going to have the permanent threat of disruption over there,” Sevilla-Macip told roughly 900 attendees of the Journal of Commerce’s Breakbulk and Project Cargo Conference 2026. “Iran will maintain the capacity to, at any point in time, resume its attacks on shipping or against critical infrastructure in the Gulf space, which we all know what that means.” The Middle East is hardly the only region ripe for continued conflict, with S&amp;P Global expecting the Ukraine-Russia war to last at least another year, Sevilla-Macip said. “’What does that mean for (the project cargo) sector? Well, potential large projects for the reconstruction of the Ukraine are probably going to remain on hold at least for the next year,” he said. Sevilla-Macip, who is part of S&amp;P’s Latin America risk team, pointed to increased tension in recent months between the US and Cuba, and between China and Taiwan. In the meantime, the rerouting of LNG tankers due to the war is creating bottlenecks at the Panama Canal, with overall transits up 16% in March compared to February, said Sevilla-Macip. Worryingly, meteorological forecasts for a <a href="https://www.joc.com/article/el-nino-forecast-suggests-risk-of-low-water-levels-along-panama-canal-6202618">strong El Niño/La Niña weather phenomenon</a> this year threaten renewed drought conditions for the canal. Such conditions would force the waterway to again limit the number of transits and the size of vessels, and that, in turn, would drive up the auction price for ad-hoc transits of the waterway Still, despite geopolitical conflicts and the resulting shipping disruptions, and President Donald Trump’s continued efforts to impose tariffs on US trading partners, global economic growth continues. S&amp;P Global expects global GDP growth of 2.4% in 2026. ”Probably we’re going to see some adjustments in the next couple of months if the situation in the Middle East continues, but it’s still going to be growth,” Sevilla-Macip said. S&amp;P Global is the parent company of the Journal of Commerce. Contact Mark Szakonyi at <a href="mailto:mark.szakonyi@spglobal.com">mark.szakonyi@spglobal.com</a>. </div>

New Orleans — The ongoing war in the Middle East is the latest example that geopolitical conflicts disrupting shipping will be the norm for the rest of the decade, a geopolitical analyst said Tuesday. José Enrique Sevilla-Macip, an S&P Global senior research analyst, said that while Iran and the US both want to decelerate tensions, boding well for the renewal of a two week-ceasefire by the Wednesday night deadline, there’s little chance of normalization in the Middle East this year. S&P Global expects crude oil prices – which were trading over $98 per barrel Tuesday afternoon – to fall to about $70/barrel by the end of the year after peaking in the second quarter. “But we are going to have the permanent threat of disruption over there,” Sevilla-Macip told roughly 900 attendees of the Journal of Commerce’s Breakbulk and Project Cargo Conference 2026. “Iran will maintain the capacity to, at any point in time, resume its attacks on shipping or against critical infrastructure in the Gulf space, which we all know what that means.” The Middle East is hardly the only region ripe for continued conflict, with S&P Global expecting the Ukraine-Russia war to last at least another year, Sevilla-Macip said. “’What does that mean for (the project cargo) sector? Well, potential large projects for the reconstruction of the Ukraine are probably going to remain on hold at least for the next year,” he said. Sevilla-Macip, who is part of S&P’s Latin America risk team, pointed to increased tension in recent months between the US and Cuba, and between China and Taiwan. In the meantime, the rerouting of LNG tankers due to the war is creating bottlenecks at the Panama Canal, with overall transits up 16% in March compared to February, said Sevilla-Macip. Worryingly, meteorological forecasts for a strong El Niño/La Niña weather phenomenon this year threaten renewed drought conditions for the canal. Such conditions would force the waterway to again limit the number of transits and the size of vessels, and that, in turn, would drive up the auction price for ad-hoc transits of the waterway Still, despite geopolitical conflicts and the resulting shipping disruptions, and President Donald Trump’s continued efforts to impose tariffs on US trading partners, global economic growth continues. S&P Global expects global GDP growth of 2.4% in 2026. ”Probably we’re going to see some adjustments in the next couple of months if the situation in the Middle East continues, but it’s still going to be growth,” Sevilla-Macip said. S&P Global is the parent company of the Journal of Commerce. Contact Mark Szakonyi at mark.szakonyi@spglobal.com .

Breakbulk News

Breakbulk26: Geopolitical disruption to shipping the new norm: analyst

<div class="phx-topic abstract-wrapper">Assessing maritime choke points and leveraging partnerships in regions around the globe will serve as important strategies for EPC companies and forwarders in developing contingency plans for their projects.</div>

Assessing maritime choke points and leveraging partnerships in regions around the globe will serve as important strategies for EPC companies and forwarders in developing contingency plans for their projects.

<div class="phx-topic">New Orleans — With war in the Middle East wreaking havoc on global trade, relationships and awareness will be key for logistics providers, carriers and shippers as they navigate an ever-evolving geopolitical landscape, a panel of experts told attendees Tuesday at the Journal of Commerce’s Breakbulk and Project Cargo Conference 2026. “You need to strive to be the vendor of choice for your client, and to be the client of choice for your vendor,” John Hark, director at Bertling Logistics and an adjunct professor at Texas A&amp;M Galveston, said Assessing maritime choke points and leveraging partnerships in regions around the globe will serve as important strategies for engineering, procurement and construction (EPC) companies and forwarders in developing contingency plans for their projects, Hark said. “If you’ve got those strong relationships, now is when that’s paying off,” he said. Hark cited the closure of the Strait of Hormuz that has resulted in shipments being diverted to nearby safe ports. “When the (shipment) gets dropped off in Sri Lanka or India, you still have a contact you can talk to at that steamship line to work through the problem and get information,” he said. <h3>Expanding energy sources </h3>José Enrique Sevilla-Macip, senior research analyst for Latin America Country Risk at S&amp;P Global Market Intelligence, said the war in the Middle East underlined the urgency to expand global energy sources, regardless of how long fighting continues. “There’s a longer-term incentive to develop these alternatives to secure energy supplies for any potential conflict, which most certainly at some point will erupt because the core of the conflict in the Middle East won’t be resolved,” he said. Sevilla-Macip said shutting down the Strait of Hormuz has empowered Iran to look to that capability as leverage in the future while they also work to establish a tolling system to effectively control the waterway. “That threat is going to remain permanent,” he said. With the US pushing to expand its energy production, Sevilla-Macip said the conflict in the Middle East could reshape trade deals the US is seeking with partners in Asia and Europe. In those deals, the US has sought to have its partners purchase more of its energy. “The current landscape is a driver that could actually push all these partners,” he said. “If they weren’t actually planning on increasing their purchases, now it makes more sense for them to look for this additional source of energy.” In evaluating geopolitical tensions in other parts of the world, Sevilla-Macip said that while the potential exists for a future conflict between China and Taiwan, it’s an “unlikely scenario,” even as tensions are expected to remain without escalating to military force at least through the end of President Xi Jinping‘s term in 2027. “At most, what we would see would be sporadic interruptions due to maritime blockades if China were trying to escalate its pressure on Taiwan,” he said. Contact Autumn Cafiero Giusti at <a href="mailto:autumn@autumngiusti.com">autumn@autumngiusti.com</a>. </div>

New Orleans — With war in the Middle East wreaking havoc on global trade, relationships and awareness will be key for logistics providers, carriers and shippers as they navigate an ever-evolving geopolitical landscape, a panel of experts told attendees Tuesday at the Journal of Commerce’s Breakbulk and Project Cargo Conference 2026. “You need to strive to be the vendor of choice for your client, and to be the client of choice for your vendor,” John Hark, director at Bertling Logistics and an adjunct professor at Texas A&M Galveston, said Assessing maritime choke points and leveraging partnerships in regions around the globe will serve as important strategies for engineering, procurement and construction (EPC) companies and forwarders in developing contingency plans for their projects, Hark said. “If you’ve got those strong relationships, now is when that’s paying off,” he said. Hark cited the closure of the Strait of Hormuz that has resulted in shipments being diverted to nearby safe ports. “When the (shipment) gets dropped off in Sri Lanka or India, you still have a contact you can talk to at that steamship line to work through the problem and get information,” he said. Expanding energy sources José Enrique Sevilla-Macip, senior research analyst for Latin America Country Risk at S&P Global Market Intelligence, said the war in the Middle East underlined the urgency to expand global energy sources, regardless of how long fighting continues. “There’s a longer-term incentive to develop these alternatives to secure energy supplies for any potential conflict, which most certainly at some point will erupt because the core of the conflict in the Middle East won’t be resolved,” he said. Sevilla-Macip said shutting down the Strait of Hormuz has empowered Iran to look to that capability as leverage in the future while they also work to establish a tolling system to effectively control the waterway. “That threat is going to remain permanent,” he said. With the US pushing to expand its energy production, Sevilla-Macip said the conflict in the Middle East could reshape trade deals the US is seeking with partners in Asia and Europe. In those deals, the US has sought to have its partners purchase more of its energy. “The current landscape is a driver that could actually push all these partners,” he said. “If they weren’t actually planning on increasing their purchases, now it makes more sense for them to look for this additional source of energy.” In evaluating geopolitical tensions in other parts of the world, Sevilla-Macip said that while the potential exists for a future conflict between China and Taiwan, it’s an “unlikely scenario,” even as tensions are expected to remain without escalating to military force at least through the end of President Xi Jinping‘s term in 2027. “At most, what we would see would be sporadic interruptions due to maritime blockades if China were trying to escalate its pressure on Taiwan,” he said. Contact Autumn Cafiero Giusti at autumn@autumngiusti.com .

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Breakbulk26: Maritime partnerships transcend uncertainty amid Middle East war

<div class="phx-topic abstract-wrapper">But the conflict in the Middle East and resultant increase in fuel prices could weigh on nearer-term prospects, participants heard Tuesday at the Journal of Commerce’s Breakbulk and Project Cargo Conference 2026.</div>

But the conflict in the Middle East and resultant increase in fuel prices could weigh on nearer-term prospects, participants heard Tuesday at the Journal of Commerce’s Breakbulk and Project Cargo Conference 2026.

<div class="phx-topic">New Orleans — Long-term demand for project cargo and breakbulk capacity is largely healthy and mostly driven by data center construction and electricity projects. But the conflict in the Middle East and resultant increase in fuel prices could weigh on nearer-term prospects, participants heard Tuesday at the Journal of Commerce’s Breakbulk and Project Cargo Conference 2026. “The world is hungry for energy, especially electricity,” Felix Schoeller, chief commercial officer at AAL Shipping, told the conference. “Demand for power generating capability and oil and gas exploration have remained strong. Industries that were written off may come back, like renewables. The biggest challenge for forwarding and shipping companies is, can we execute.” Long-term prospects for large projects remain robust, due, in part, to the artificial intelligence boom and the need to build data centers to support that trend. But the global volatility caused by the war in the Middle East, layered on top of continued trade policy uncertainty in North America, could have a chilling effect on capacity demand this year. “I feel good about ’27 and beyond, but late summer this year is going to be ugly,” Michael Ruediger, director of projects/North America at Austria-based logistics company Gebrüder Weiss, said at the conference. “Companies with an abundance of staff will do some bloodletting to get through the summer.” Robert Drew, vice president/North American trade development at German logistics services company Menzell Döhle Logistics Gmbh, said the current market volatility makes it nearly impossible to assemble an accurate project cost assessment. “The challenges of tariffs are a huge one,” Drew said, noting the particular impact US tariffs have had on imported steel products used for projects. “Geopolitical issues, the increase in fuel rates. The process of putting a project together and determining whether it’s viable includes logistics costs and those are a moving target. How do you price on that basis with the increased costs and volatility?” That uncertainty has manifested itself in project deferments and delays, Drew said, adding that the signs of import volume declines for project shipments started showing in late 2025. Still, “Demand has not disappeared for steel,” he said. “It’s been deferred.” Drew said domestic steel manufacturers have stepped in to serve that demand, emboldened by the US’ chilly stance toward imports. “There doesn’t seem to be a lifting of barriers with tariffs,” he said. “Domestics jump in with anti-dumping action as soon as you get a good [import] program going. It’s all about the political aspect and the revenues it’s generating. The demand hasn’t disappeared.” <h3>Data center ‘fad’ </h3>Ruediger echoed those thoughts around broader near-term delays in project demand. He said the data center phenomenon, while powerful, is likely to be a “fad” that will lose steam in two years. But he expects demand to come from industrial gases by 2028. He also pointed to strong demand from equipment manufacturers in Europe serving US customers and structural steel produced in Vietnam and Thailand. He encouraged the breakbulk and project cargo market to not be overly fixated on one sector. “We don’t discriminate,” he said. “We move freight.” Meanwhile, Drew said the industry would benefit from any sort of resolution to the war in Iran and the ongoing conflict between Russia and Ukraine. “I’ve been around this industry a long time, and I can’t tell you how many times we’ve been to the precipice and thankfully the world hasn’t yet come to an end,” he said. Contact Eric Johnson at <a href="mailto:eric.johnson@spglobal.com">eric.johnson@spglobal.com</a>.</div>

New Orleans — Long-term demand for project cargo and breakbulk capacity is largely healthy and mostly driven by data center construction and electricity projects. But the conflict in the Middle East and resultant increase in fuel prices could weigh on nearer-term prospects, participants heard Tuesday at the Journal of Commerce’s Breakbulk and Project Cargo Conference 2026. “The world is hungry for energy, especially electricity,” Felix Schoeller, chief commercial officer at AAL Shipping, told the conference. “Demand for power generating capability and oil and gas exploration have remained strong. Industries that were written off may come back, like renewables. The biggest challenge for forwarding and shipping companies is, can we execute.” Long-term prospects for large projects remain robust, due, in part, to the artificial intelligence boom and the need to build data centers to support that trend. But the global volatility caused by the war in the Middle East, layered on top of continued trade policy uncertainty in North America, could have a chilling effect on capacity demand this year. “I feel good about ’27 and beyond, but late summer this year is going to be ugly,” Michael Ruediger, director of projects/North America at Austria-based logistics company Gebrüder Weiss, said at the conference. “Companies with an abundance of staff will do some bloodletting to get through the summer.” Robert Drew, vice president/North American trade development at German logistics services company Menzell Döhle Logistics Gmbh, said the current market volatility makes it nearly impossible to assemble an accurate project cost assessment. “The challenges of tariffs are a huge one,” Drew said, noting the particular impact US tariffs have had on imported steel products used for projects. “Geopolitical issues, the increase in fuel rates. The process of putting a project together and determining whether it’s viable includes logistics costs and those are a moving target. How do you price on that basis with the increased costs and volatility?” That uncertainty has manifested itself in project deferments and delays, Drew said, adding that the signs of import volume declines for project shipments started showing in late 2025. Still, “Demand has not disappeared for steel,” he said. “It’s been deferred.” Drew said domestic steel manufacturers have stepped in to serve that demand, emboldened by the US’ chilly stance toward imports. “There doesn’t seem to be a lifting of barriers with tariffs,” he said. “Domestics jump in with anti-dumping action as soon as you get a good [import] program going. It’s all about the political aspect and the revenues it’s generating. The demand hasn’t disappeared.” Data center ‘fad’ Ruediger echoed those thoughts around broader near-term delays in project demand. He said the data center phenomenon, while powerful, is likely to be a “fad” that will lose steam in two years. But he expects demand to come from industrial gases by 2028. He also pointed to strong demand from equipment manufacturers in Europe serving US customers and structural steel produced in Vietnam and Thailand. He encouraged the breakbulk and project cargo market to not be overly fixated on one sector. “We don’t discriminate,” he said. “We move freight.” Meanwhile, Drew said the industry would benefit from any sort of resolution to the war in Iran and the ongoing conflict between Russia and Ukraine. “I’ve been around this industry a long time, and I can’t tell you how many times we’ve been to the precipice and thankfully the world hasn’t yet come to an end,” he said. Contact Eric Johnson at eric.johnson@spglobal.com .

Breakbulk26: Data center, electricity demand buoy project cargo industry

<div class="phx-topic abstract-wrapper">Unveiled at Breakbulk26 in New Orleans this week, the Journal of Commerce’s new Breakbulk Shipper Index tracks a range of indicators including changes in volumes carried by different vessel types, lead time for chartering vessels, and load and discharge regions.</div>

Unveiled at Breakbulk26 in New Orleans this week, the Journal of Commerce’s new Breakbulk Shipper Index tracks a range of indicators including changes in volumes carried by different vessel types, lead time for chartering vessels, and load and discharge regions.

<div class="phx-topic">New Orleans — The Journal of Commerce has launched an exclusive benchmark for the breakbulk and project cargo sector designed to improve transparency in ship capacity projections and contract negotiations. Unveiled at the Journal of Commerce’s Breakbulk and Project Cargo Conference 2026 taking place this week, the Breakbulk Shipper Index tracks a range of indicators including changes in volumes carried by different vessel types, lead time for chartering vessels and load and discharge regions. The index is based on cargo owner activity rather than data from cargo carriers. Input comes from a range of cargo owner types, including engineering, procurement and construction companies (EPCs), manufacturers of breakbulk and project cargo, project owners, and project freight forwarders. All the data providers are members of the Journal of Commerce Breakbulk Shipper Group (BSG), shippers who control the transportation of breakbulk and project cargo. Susan Oatway, the Journal of Commerce’s senior research analyst for breakbulk and project cargo, has been building the index since July 2024 after requests from EPCs and original equipment manufacturers (OEMs) for an index that they could use to track future freight contract pricing. Although there are freight rate indexes available for the sector, Oatway said they are very specific or based on assessments from carriers. “The Journal of Commerce’s index does not incorporate data from carriers or information on rates, making it unique in its assessment,” Oatway said. <div class="wrapper-narrow"><dynamic-object type="jocchartid" resource-id="dd8e14c5-769e-4133-a9f2-f81a491f47aa"></dynamic-object></div>The Journal of Commerce Breakbulk Shipper Index covers five vessel types: a general cargo ship with single-lift capacity of under 250 tons, project cargo carriers with single-lift capacity of over 250 tons, container carriers, deck cargo carriers, and roll-on/roll-off vessels. The published index is a consolidated figure, weighted against the five ship types. The index is now active and available for use by the industry. “This is a unique index that is shipper-led and shipper-driven,” Oatway said. “We anticipate that its main use will be in contract negotiations for seaborne capacity. Shippers trying to fix freight rates a year out will be able to add in an index escalation clause. We hope that this index will quickly become a bellwether of capacity in the MPV trades.” Members of the BSG already use the index to benchmark themselves, she added. In the future, the Journal of Commerce will use this index to forecast the direction of the MPV market. <h3>‘Growing’ the index </h3>Oatway said the Breakbulk Shipper Group has been actively involved at every step in the formulation of the index. “Launching the index is only the first step,” she said. “We will be growing and developing the index over time and are extending the invite to the BSG to all shippers who want to join us on this vital journey towards improving transparency in this sector.” Members of the BSG receive a regular monthly report with all data related to the index and access to the proprietary index report. The Breakbulk Shipper Index is not a financial benchmark index, nor is it designed or intended to be used as a reference rate for financial instruments or investment products, such as those produced by S&amp;P Dow Jones Indexes (SPDJI). Contact Carly Fields at <a href="mailto:carly.fields@spglobal.com">carly.fields@spglobal.com</a>.</div>

New Orleans — The Journal of Commerce has launched an exclusive benchmark for the breakbulk and project cargo sector designed to improve transparency in ship capacity projections and contract negotiations. Unveiled at the Journal of Commerce’s Breakbulk and Project Cargo Conference 2026 taking place this week, the Breakbulk Shipper Index tracks a range of indicators including changes in volumes carried by different vessel types, lead time for chartering vessels and load and discharge regions. The index is based on cargo owner activity rather than data from cargo carriers. Input comes from a range of cargo owner types, including engineering, procurement and construction companies (EPCs), manufacturers of breakbulk and project cargo, project owners, and project freight forwarders. All the data providers are members of the Journal of Commerce Breakbulk Shipper Group (BSG), shippers who control the transportation of breakbulk and project cargo. Susan Oatway, the Journal of Commerce’s senior research analyst for breakbulk and project cargo, has been building the index since July 2024 after requests from EPCs and original equipment manufacturers (OEMs) for an index that they could use to track future freight contract pricing. Although there are freight rate indexes available for the sector, Oatway said they are very specific or based on assessments from carriers. “The Journal of Commerce’s index does not incorporate data from carriers or information on rates, making it unique in its assessment,” Oatway said. The Journal of Commerce Breakbulk Shipper Index covers five vessel types: a general cargo ship with single-lift capacity of under 250 tons, project cargo carriers with single-lift capacity of over 250 tons, container carriers, deck cargo carriers, and roll-on/roll-off vessels. The published index is a consolidated figure, weighted against the five ship types. The index is now active and available for use by the industry. “This is a unique index that is shipper-led and shipper-driven,” Oatway said. “We anticipate that its main use will be in contract negotiations for seaborne capacity. Shippers trying to fix freight rates a year out will be able to add in an index escalation clause. We hope that this index will quickly become a bellwether of capacity in the MPV trades.” Members of the BSG already use the index to benchmark themselves, she added. In the future, the Journal of Commerce will use this index to forecast the direction of the MPV market. ‘Growing’ the index Oatway said the Breakbulk Shipper Group has been actively involved at every step in the formulation of the index. “Launching the index is only the first step,” she said. “We will be growing and developing the index over time and are extending the invite to the BSG to all shippers who want to join us on this vital journey towards improving transparency in this sector.” Members of the BSG receive a regular monthly report with all data related to the index and access to the proprietary index report. The Breakbulk Shipper Index is not a financial benchmark index, nor is it designed or intended to be used as a reference rate for financial instruments or investment products, such as those produced by S&P Dow Jones Indexes (SPDJI). Contact Carly Fields at carly.fields@spglobal.com .

Slight uptick in Breakbulk Shipper Index signals increase in capacity

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Monthly publication providing an editorial deep dive into global supply chain news

Journal of Commerce Magazine - Rectangle Box

Journal of Commerce Magazine

A premium access index of savings using domestic intermodal vs. OTR 

ISI Report - Rectangle Box

Intermodal Savings Index

An in-depth analysis of transport trends in the multipurpose and heavy-lift fleet segment

Breakbulk Report - Rectangle Box

Breakbulk Quarterly

An extensive dashboard of charts organized by trade lane, mode, and topic

Gateway - Rectangle Box

Gateway

Customers scoring their intermodal partners to identify the best service providers

Intermodal Service Scorecard - Rectangle Box

Intermodal Service Scorecard

A premium access outlook critical to shippers and transportation providers

QI Report - Rectangle Box

Quarterly Intelligence

The only editorially independent conference for the breakbulk & project cargo industry

Breakbulk Conference - Rectangle Box

Attend Breakbulk26

The Journal of Commerce is the industry’s source for maritime news and analysis about ocean container shipping, logistics, supply chains, global shipping ports, shipping technology solutions and end-to-end connectivity. Coverage tracks the movement of containerized cargo — from origin to destination — handled by marine terminals in the US and abroad, depots, container ports, container lines, drayage, consignees and shippers, forwarders, non-vessel operating common carriers (NVOs) and off-dock warehousing providers, as well as pricing, capacity, volume and reliability on the trans-Pacific, Asia–Europe, North America–Caribbean, Central and South American and intra-Asia trades.

Discover comprehensive trucking news and trends with Journal of Commerce - from trucking LTL to regulation and trucking supply and demand.

Breakbulk News shipping | Journal of Commerce

Container shipping news and analysis of ocean container shipping, logistics, supply chains, technology and end-to-end connectivity.

Container Shipping News | Journal of Commerce

Stay informed on port news worldwide with Journal of Commerce. From decarbonization to labor updates, get insights on global developments.

Port News | Journal of Commerce

Port News

News and analysis of ocean containerized cargo movement, logistics, supply chains, technology, and end-to-end connectivity. Maritime news and analysis of containerized ocean cargo movement, breakbulk and roll-on and roll-off shipping from origin to destination.

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More News & Analysis

Hapag-Lloyd imposes emergency fuel surcharges on third-party feeder cargo

Breakbulk26: Geopolitical disruption to shipping the new norm: analyst

Breakbulk26: Maritime partnerships transcend uncertainty amid Middle East war