Asia-Pacific Freight Market January 2026: A Mixed Landscape of Opportunities and Risks

The latest report from Dimerco reveals that the Global Manufacturing PMI has dipped to a 4-month low. While air freight is soaring thanks to semiconductor and AI exports, ocean freight faces the risk of overcapacity should the Suez route resume early.

Asia-Pacific-Freight-Market-January-2026-A-Mixed-Landscape-of-Opportunities-and-Risks

Photo: Phaata

According to key findings from Dimerco Express Group’s January 2026 Asia-Pacific Monthly Freight Report, the global market is experiencing mixed conditions. The Global Manufacturing Purchasing Managers' Index (PMI) indicated slowing growth, slipping to 50.5 from the previous 50.8, marking its lowest point in the last four months.

This figure reflects uneven performance across sectors: while consumer goods and intermediate goods are expanding, the investment goods sector is contracting.

The Divergence Between Ocean and Air Freight

Commenting on the market outlook, Ms. Catherine Chien, President of Dimerco Express Group, provided an analysis of the two current extremes in transport: "Ocean freight will be shaped more by capacity imbalances and regional disparities, with potential disruptions linked to any return to Suez Canal routes. Simultaneously, airfreight remains robust, driven by high-tech and e-commerce demands to North America and Europe."

Meanwhile, Mr. Ted Chen, Director of Ocean Freight, offered a cautious advisory despite the extended tariff truce between the US and China: "Until trade activity clearly recovers, any early return to the Red Sea could add excess capacity and further disrupt an already fragile market."

Regional Market Highlights

The report also outlined detailed trends in key markets:

• Northeast Asia: Air freight demand is booming, driven by AI and semiconductor exports, causing significant capacity tightness on routes to the US and Intra-Asia. Conversely, ocean freight remains weak due to the post-holiday slowdown.

• Southeast Asia: The region is experiencing severe space tightness in both air and ocean freight ahead of the Lunar New Year. The situation is exacerbated by export backlogs and surging e-commerce volumes. Notably, Malaysia, Thailand, and Singapore are reporting major capacity constraints and cargo stagnation.

• China: Air freight activity is forecast to be robust in Hong Kong and Northern China, particularly on US-bound lanes. Meanwhile, ocean freight remains relatively stable with modest seasonal adjustments.

• North America: Short-term weakness in air freight is expected post-holiday, followed by rapid tightening before the Lunar New Year. Ocean freight continues to face weak demand despite the approaching peak season pressure.

• Europe: Facing air freight disruptions due to ongoing strikes at major airports, impacting reliability and capacity. Regulatory changes and operational challenges are also contributing to instability for ocean freight on the continent.

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