Freight Pulse & Law Update - 19:00

As of August 18, 2026: Freight risk is concentrating around two chokepoints: Hormuz and Panama: while new Jones Act procedures raise the documentation burden for domestic waterborne moves.

What is happening in global ocean freight?

Reuters data shows Strait of Hormuz traffic has sharply declined after tanker attacks. Only five commodity vessels transited over the weekend, compared with 31 the prior weekend. Treat Gulf routing, insurance, and arrival forecasts as volatile.

The Panama Canal Authority will reduce Neopanamax draft limits to 48 feet on August 26 and 47.5 feet on September 3, until further notice. The official ACP advisory says transit slots remain stable: but ships may need to sail lighter. MSC, CMA CGM, Hapag-Lloyd, and ONE are adding surcharges on affected services.

Blank sailings are also limiting the capacity gains carriers expected. Plan for rolled cargo, reduced sailing frequency, and higher all-in costs. Reconfirm bookings, container allocations, and delivery buffers now.

What changed under the Jones Act waiver?

CBP extended the emergency waiver through November 15, 2026, but eligibility is narrower:

• Covered goods must match one of 237 HTS codes.

• Submit a “VESSEL AVAILABILITY REQUEST” to the Department of War and MARAD before each foreign-flag voyage.

• CBP requires voyage details and a Form 1302 copy.

• The owner/operator and requesting party must file a MARAD report within 10 days after the voyage.

Read the CBP guidance before quoting or routing qualifying cargo. The IRS also confirmed that waiver income is not eligible for the Section 883 international-shipping exemption; foreign corporations must report it on Form 1120-F.

What should carriers prepare for next?

DOT-aligned CVSA Brake Safety Week runs August 23–29. Inspect drums, rotors, air lines, pushrod travel, and DVIR records before dispatch.

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