Contents Annual Review & Outlook 2026
Executive Editor: Mark Szakonyi 202.872.1234, mark. szakonyi @ spglobal. com
Managing Editor: Benjamin Meyer 916.716.6272, benjamin. meyer @ spglobal. com
Managing Editor: Kevin Saville, 212.488.4282, kevin. saville @ spglobal. com
Senior Editors: William B. Cassidy Trucking and Domestic Transportation 202.872.1228, bill. cassidy @ spglobal. com
Bill Mongelluzzo, West Coast 562.428.5999, bill. mongelluzzo @ spglobal. com
Eric Johnson, Technology 213.444.9326, eric. johnson @ spglobal. com
Janet Nodar, Breakbulk and Heavy Lift 251.408.2090, janet. nodar @ spglobal. com
Greg Knowler, Europe + 44.797.679.8770, greg. knowler @ spglobal. com
Ari Ashe, Southeast Ports, Intermodal Rail 202.548.7895, ari. ashe @ spglobal. com
Michael Angell, Northeast ports, 646.505.4712, michael. angell @ spglobal. com
Laura Robb, Associate Editor 281.216.0456, laura. robb @ spglobal. com
Carly Fields, Associate Editor, + 44( 0) 7966 210030, carly. fields @ spglobal. com
Senior Research Analyst, Project and Breakbulk Cargo: Susan Oatway, FICS, + 44.7930.411659 susan. oatway @ spglobal. com
Senior Contributor: Cathy Morrow Roberson, 732.730.2533, cathy. morrowroberso @ spglobal. com
Data Hub Manager: Marcin Lejk, + 44.58.741.6270, marcin. lejk @ spglobal. com
Shipper Engagement Manager: Annalee Witte, 317.941.8130, annalee. witte @ spglobal. com
Shipper Engagement Manager, Breakbulk: Diana Hamm, 832.499.7368, diana. hamm @ spglobal. com
Senior Editor, Special Projects: Alessandra Gregory Barrett, 860.248.5238, alessandra. barrett @ spglobal. com
Senior Associate Editor, Special Projects: Ariane Herrera, 215.789.7478, ariane. Herrera @ spglobal. com
Special Projects Coordinator: Amanda Hunter, 212.205.1226, amanda. hunter @ spglobal. com
Power
moves
An energy policy overhaul and data center investments signal a project cargo shift
A slow start
Soft volumes will keep West Coast ports congestion free in early 2026
Ahead of the curve
East and Gulf coast ports are expanding intermodal access and vessel capacity
58 Government Eroding confidence
Regulatory uncertainty is weighing heavy on green fuel investment
64 Surface Transportation Taking the long road
A persistent supply-demand imbalance will keep truckload rates in check
Protecting their turf
LTL providers are carefully managing capacity in a changing market
Semi-organic growth
Domestic intermodal will benefit from new lanes and faster service
Senior Designer: Sue Abt, sue. abt @ spglobal. com
Associate Production Editor: Ivan Klos, ivan. klos @ spglobal. com
Designer: Hannah Kidd, + 44 203 253 2134, hannah. kidd @ spglobal. com
Sales: Cindy Cronin, Director APAC sales, 954.260.6061
Jean Gibbons, Senior Sales Executive West Coast, FL, GA sales, 706.469.7160
Kimberly Davis Guerra, Senior Sales Executive Midwest, Gulf, Latin America sales, 832.370.6350
John Knowles, Sales Manager EMEA, AU sales, + 44.777.997.4677
Allyson Marek, Senior Sales Executive Northeast sales, 727.337.3010
Elaine Nosaka, Senior Sales Executive VA, NC, SC, Canada sales, 703.447.9555
For Magazine Subscription Customer Service: www. joc. com / help 55 Water St., 39th Floor, New York, N. Y. 10041
78 Logistics Too much and not enough
Warehousing vacancies hit a new peak, but larger facilities are still needed
94 Air Cargo High and rising
E-commerce and AI demand will keep ex-Asia air freight under pressure
98 Technology Selective absorption
WiseTech’ s pricing change is testing shippers’ willingness to take on technology costs
Peter Tirschwell, Vice President- Shipping Intellience, S & P Global
Chris Brooks, Executive Director- Shipping Intelligence, S & P Global
Carmen Verenna, Head of Operations
© 2026 Journal of Commerce— All Rights Reserved For more information, visit our website, www. joc. com.
Journal of Commerce( USPS 279 – 060), ISSN 1530-7557, January 5, 2026, Volume 27, Issue No. 1. Journal of Commerce is published monthly( printed 12 times per year) by JOC Group Inc., 55 Water St., 39th Floor, New York, N. Y. 10041. Subscription price: $ 595 a year. Periodicals postage paid at New York, N. Y., and additional mailing offices. © All rights reserved. No portion of this publication may be copied or reprinted without written permission from the publisher. POSTMASTER: Please send address changes to Journal of Commerce, Subscription Services Department, 55 Water St., 39th Floor, New York, N. Y. 10041. www. joc. com January 5, 2026 | Journal of Commerce 3