Maritime 2026 Annual Review & Outlook
Executive Commentary
dship Carriers
Melanie Drehkopf
COO www. dship-carriers. com
As we approach 2026, the outlook for the breakbulk and project cargo sector appears cautiously optimistic. After a period of uncertainty and unpredictable market conditions, the market is showing signs of renewed stability. One major factor certainly is the growing activity in both the renewable and traditional energy sector. Particularly wind energy projects— offshore and onshore— continue to expand globally, driving a strong demand for the transportation of complex and oversized components.
At the same time, the industry is evolving, and clients are increasingly prioritizing flexibility and sustainability— qualities that are central to how we and many of our peers operate. The modernization of fleets and the introduction of new and innovative vessels are strengthening overall competitiveness and helping the sector adapt to shifting global requirements.
While challenges such as fluctuating rates and geopolitical uncertainty remain, the fundamentals look encouraging. Overall, 2026 won’ t be a year defined by rapid expansions, but a year of opportunities for carriers with the right technical capabilities and expertise.
they have far healthier balance sheets and cash reserves than in 2009 and 2016. Paradoxically, this is also why overcapacity has gotten out of hand through excessive newbuild ordering.
Second, there are fewer major carriers these days, following consolidation post-Hanjin Shipping bankruptcy. In 2009, there were 21 major carriers competing on the East-West routes. In late 2025, there are only 12 major East-West carriers left( or 11, if you count Cosco and OOCL as one carrier group). This means fewer decision makers— enabling more streamlined and coordinated response to match supply with demand— and fewer responses to shippers’ bids.
Finally, the carrier industry’ s management attitude has matured. Drewry expects carriers to reduce rates to keep market share and try to fill their ships, as they always do in times of down cycles( which I remember well, as a former carrier executive). But I believe that the old mentality of some carriers to deliberately target and undermine one of their competitors with“ destructive pricing” has gone. As I was once told, the previous“ I will bury you” mentality of some carriers in the past has gone. This must be welcome.
Georgia Ports Authority
Griff Lynch
President and CEO www. gaports. com
Economic cycles challenge every company as a normal part of business operations and supply chain fluctuations.
Port leaders must have a long-term vision, strategy and infrastructure investment plan regardless of short-term cargo volumes.
The question is this: Will you be building new port capacity when it’ s needed, or will you have it ready when it’ s needed?
Ports should enhance berths, container yards and inland connectivity now to take advantage of business opportunities in the future. By building capacity in advance and leveraging inland connectivity and major market access, ports such as Savannah and Brunswick are setting a business model for how the shipping industry can maintain momentum through economic cycles.
“ After a period of uncertainty and unpredictable market conditions, the market is showing signs of renewed stability.”
Melanie Drehkopf
“ The question is this: Will you be building new port capacity when it’ s needed, or will you have it ready when it’ s needed?”
Griff Lynch
“ While tariffs and other geopolitical impacts can be viewed as temporary bumps on multiannual seasonal demand cycle, current downturn is fundamentally different from past cycles.”
Christian Sur
It is also a good time for cargo owners to examine supply chains’ true end-to-end transit time and cost.
A recent Georgia Tech research study found that Asia to Atlanta via West Coast port and rail routings compared with Asia to Atlanta via Savannah all-water routings were comparable in transit, but Savannah’ s all-water routing was 32 % cheaper, more predictable and consistent.
Global source shifting and diversification trends are creating business opportunities. The India era, with the largest population in the world, rising middle class, English language and democratic government is an example. Savannah’ s proximity to India is closer than US West Coast routings, creating a future paradigm shift in gateway ports.
GLOVIS America
Christian Sur
Executive Director, Global Sales www. glovisusa. com
The container shipping industry navigated a significant downturn in 2025, a situation primarily driven by external and geopolitical factors. Cooling US consumer spending, new and increased tariffs, and general global uncertainties are all contributing to downward pressure on freight rates, which coincides with a wave of new vessel deliveries that exacerbates oversupply conditions.
To mitigate the effects of this deceleration in demand, industry must employ a blend of traditional and technological strategies. Proactive capacity management, market diversification and stringent cost reduction are essential. Critically, investments in new technologies such as AI and predictive analytics are vital. These tools offer advanced ways to improve operational efficiency, optimize container logistics, forecast demand more accurately and specifically manage high costs associated with empty container repositioning.
US tariffs— as announced, applied and then changed on multiple occasions, particularly on Chinese goods— have amplified uncertainty and acted as a
40 Journal of Commerce | January 5, 2026 www. joc. com