Shipping markets remain under strain, with freight rates falling, alliances bedding in, and trade policy now a dominant force reshaping global flows.Drewry's World Container Index has dropped 46% since January, and while carriers continue to announce GRIs and surcharges, oversupply and weak demand—especially into Australia—are keeping downward pressure on spot rates.In the U.S., new tariffs and service fees targeting Chinese-built ships are starting to bite. The end of de minimis treatment for low-value Chinese goods is also in effect, adding new friction to parcel logistics and e-commerce supply chains. Early signs show reduced vessel arrivals and sharp drops in China–U.S. volumes, with further disruptions expected as deadlines approach.On the domestic front, the ACCC has delayed its decision on DP World's proposed acquisition of Silk Logistics following FTA/APSA's advocacy. Concerns around vertical integration and reduced competition remain front and centre. At the same time, the Qube–MIRRAT acquisition has been cleared—subject to strict undertakings to safeguard fair access and transparency in the automotive supply chain.This edition breaks down key developments across freight rates, capacity management, alliance performance, schedule reliability, emissions regulation, and terminal activity. It's a complex, fast-moving landscape—one where policy decisions are shaping outcomes just as much as market signals.As always, we're here to help you stay informed and ahead of the curve.For the full report, please click HERE (FTA/APSA MEMBER LOGIN REQUIRED)Tom Jensen - General Manager Freight Policy & Operations - FTA / APSACopyright © 2025 Freight & Trade Alliance (FTA) Pty Ltd, All rights reserved.