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PanStar Northern Sea Route maiden voyage attracts attention

South Korean exporters are enthusiastic about the country's maiden container shipping voyage through the Northern Sea Route. Cargo is being booked for the 2,800 teu box ship to be chartered by PanStar Line for the 22 August service from Busan, calling at Rotterdam, Hamburg, and Gdansk. PanStar held a briefing session on Monday, attended by exporters and 3PL executives from CJ Logistics, LX Pantos, Hyundai Glovis, Taewoong Logistics and Intergis, among others. Safety concerns were alleviated by highlighting that the average temperature in the Arctic Ocean during the voyage would be between 1º and 8ºC, which small difference between day and night is favourable for maintaining cargo quality. Since PanStar opened bookings for the service, requests from shippers and forwarders have been increasing rapidly for diverse cargo, including automotive parts and synthetic resins - key exports to Northern Europe - as well as used cars, food products, liquid cargo, cosmetics, and steel products. And enquiries and reservations for transhipment cargo from Japan and China are also increasing, raising the likelihood that the Arctic route will expand into a North-east Asian multimodal logistics network. PanStar's general manager, Kang Sang-in, said: "The Arctic route is not merely about pioneering a new route, but is also a challenge that creates a new history for South Korea's shipping industry." Primarily operating passenger and cargo ferry routes between South Korea, Japan, and China, PanStar :Line was the only company to participate in the Ministry of Oceans and Fisheries' tender for the pilot South Korea-Europe voyage through the NSR. The South Korean government is keen to emulate China in arranging expedited container shipping routes through the NSR. Potential extension of navigable periods in the Arctic Ocean, due to warmer temperatures, and the growing need for supply chain diversification has made China and Japan look to the NSR as an alternative bridge between Asia and Europe. In particular, amid heightened uncertainty over the Suez Canal route, due to the Red Sea crisis and geopolitical risks, the Northern Sea Route is attracting interest as an alternative capable of shortening sailing distances and transit times.

IAG Cargo's Q2 revenues and traffic down, but yields up

IAG Cargo's second quarter revenues and cargo traffic fell year on year due to the Middle East conflict, although the business boosted yields through a focus on premium cargo. Cargo revenue was £295m in the second quarter ending 30 June. This was down 5.1% from £311m in the second quarter of 2025. IAG Cargo's cargo traffic was also down 16.9% on the second quarter of 2025 to 1.1bn cargo tonne kms (CTKs). Though revenues and volumes were down, cargo yields, measured as cargo revenue per cargo tonne kilometre (RTKs), were up 14.2%. In its first half results release, IAG said: "Cargo capacity was impacted from March onwards by cancellations to destinations in the Middle East. The impact of lower revenues was mainly offset through operating cost savings and fuel-related price increases." "The cargo business continued to prioritise premium and higher-yielding flows, particularly across Asia Pacific and India, supported by strong demand for specialist products." IAG Cargo said it has also advanced the planned launch of its joint global cargo business with Qatar Airways Cargo and MASkargo, with operations commencing across 59 markets while continuing to invest in its network and customer offering. The joint business aims to bring together the combined expertise and infrastructure of the airlines and is expected to enable a streamlined product offering, enhanced connectivity, faster transit times, and new routing opportunities across the airlines' combined networks. Once fully launched, the joint business is expected to provide customers with access to more than 400 destinations worldwide. IAG Cargo saw both revenues and cargo traffic decline in the first quarter of the year as the Middle East conflict, a weaker dollar and a strong comparison period last year affected comparisons.

Covid's legacy: 'Flexibility has replaced efficiency as box shipping's guiding principle'

India is emerging as one of the biggest beneficiaries of the post-pandemic shift towards more resilient global supply chains, with container shipping data showing its exports to the US continuing to strengthen. Xeneta chief analyst Peter Sand told The Loadstar: "When carriers adapt to the de-risking of supply chains set up by shippers, it involves more shipments out of India." Indeed, he noted that freight rates from India to the US east coast were on track "to be at an all-time high next week", said Mr Sand. "If we see early indicators from Xeneta data, we could be as high as $7,400 per 40ft, and still climbing." The growth reflects a broader trend of importers diversifying sourcing from China as they seek to reduce geopolitical and supply chain risks, he said. "There's more to global shipping than the main tradelanes," Mr Sand added. The Loadstar previously reported that one European freight forwarder said high demand on the India-North Europe trade, paired with capacity constraints, was making getting shipments out of India "nigh-on impossible". The forwarder was having to book space "four-to-six weeks in advance", and had seen carriers cancel bookings rather than roll cargo when space was tight. The resilience of Indian exports reflects a wider transformation in global supply chains, according to Braemar, which added that the container market had "fundamentally changed" since Covid, with resilience replacing efficiency as the industry's defining principle. "Today, uncertainty has become part of the business model. Importers no longer wait for stability before making decisions. They diversify suppliers, adjust sourcing, build inventory when necessary, and bring cargo forward when risks emerge. Flexibility has replaced efficiency as the guiding principle," explained Braemar analyst Jonathan Roach. "The industry no longer expects calm waters. It expects disruption," he added. While Mr Roach highlighted that "none of this means container shipping has become immune to shocks", he underscored that the industry was "unlikely to be caught offguard" in the same way it once was. "Covid did more than disrupt global shipping. It changed its mindset. For decades the industry pursued efficiency above almost everything else. Since 2020, it has pursued resilience, flexibility and speed of response. "That may prove to be the pandemic's most enduring legacy."