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Global supply chains entered July in a relatively stable position, but that stability is proving increasingly fragile. Capacity continues to recover across ocean, air and road freight, yet a combination of resilient demand, regional congestion and renewed geopolitical tension is preventing any meaningful easing in transport costs.
The resumption of hostilities between the United States and Iran has quickly shifted market attention from capacity shortages to rising energy costs. Higher oil prices are already filtering through with additional bunker and fuel surcharges across ocean, air and road transport, while continued restrictions across Middle Eastern sea and air corridors are creating fresh operational challenges. At the same time, resilient manufacturing activity, improving consumer demand and sustained investment in warehousing continue to support freight volumes and longer-term supply chain resilience.
This month’s report examines how these changing market dynamics are affecting each transport mode, where capacity is improving, where disruption persists and what businesses should expect as supply chains move further into the third quarter.
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