March 2026 witnessed a severe disruption in the global ocean freight industry due to the escalation of the U.S.-Iran conflict and the subsequent closure of the Strait of Hormuz, one of the world’s most critical shipping arteries.

The International Air Transport Association (IATA) released data on March 30, 2026, showing that global air cargo demand, measured in cargo tonne-kilometers (CTK), rose by 11.2% year-on-year in February 2026, with international operations growing by 11.6%.

As the Middle East conflict continues, Asia-Europe air cargo shippers are facing a double blow of soaring freight rates and rising fuel surcharges.