Global supply chains are entering the final stretch of 2025 with a mix of stabilisation, renewed pressure points and emerging policy shifts that are already reshaping flows across continents. Noatum Logistics’ November 2025 Market Report reveals a freight environment that looks calmer on the surface, but where the underlying currents, from carrier behaviour to inventory cycles and tariff resets, are rapidly changing the outlook for early 2026. Across several key markets, vessel utilisation is recovering, seasonal restocking is lifting volumes, and