Former US Treasury Secretary Janet Yellen stated that the ongoing conflict with Iran presents a new risk to the United States' economic growth. She indicated that consumers might reduce their spending if crude oil and gasoline prices remain elevated due to the recent strikes on Iran by the US and Israel. This statement was made at the TPM26 event.

In other news, MSC is downgrading its India-Europe/Mediterranean network due to difficulties in handling transshipment cargo. This decision follows a government move to revoke a cabotage waiver previously granted to foreign-flag carriers since 2018, which is expected to lead to a decline in transshipment cargo handling at Indian ports.

Separately, the truckload capacity index has seen an increase as major US carriers reallocate their assets. Reductions in standard one-way services have been offset by increased capacity within dedicated and specialized fleets.

Additionally, the shipping industry is actively avoiding the Middle East region following strikes initiated by the US and Israel against Iran. A federal court has also dismissed a complaint filed by the International Longshoremen's Association (ILA) concerning rail cranes in Virginia.