Key facts
- Houston's waterborne tonnage increased 12% to 65 million short tons in Q1 2026.
- Houston's exports rose 19% in Q1 2026.
- Houston's general cargo volumes increased 52% year-to-date.
- Ivory Coast's Q1 exports grew 13.3% year-on-year.
- Ivory Coast's cocoa exports increased 16.6% to XOF 2.6bn.
- Ivory Coast's gold exports surged 43.9% to XOF 954.3bn.
- Ivory Coast's imports fell 1.7% in Q1 2026.
- Amigo LNG will increase Mexican export volumes to 1 million tonnes per annum.
- Capesize dry bulk rates decreased by approximately 1%.
- Panamax dry bulk rates decreased by approximately 2%.
- VLCC tanker rates increased by about 5%.
Global trade and shipping experienced varied performance in Q1 2026. Houston's waterborne tonnage saw a substantial 12% year-over-year increase, reaching 65 million short tons. This growth was primarily driven by a 19% surge in exports, alongside a significant 52% year-to-date increase in general cargo volumes. Container volumes, while down slightly by 1%, are still tracking close to last year's record pace.
Ivory Coast reported a 13.3% year-on-year rise in Q1 exports, largely due to strong performance in cocoa and gold. Cocoa exports climbed 16.6% to XOF 2.6 billion, and gold exports experienced a remarkable 43.9% increase, reaching XOF 954.3 billion. Conversely, imports into Ivory Coast decreased by 1.7%, with a notable 37.6% drop in crude oil imports contributing to this decline. Switzerland and the Netherlands were identified as the primary destinations for Ivory Coast's exports.
The broader manufacturing sector is demonstrating a recovery that is becoming more widespread, with industrial demand emerging as the key catalyst. This heightened industrial activity is fueling an upcycle in the freight market, suggesting an increase in overall transportation volumes and indicating positive economic momentum.
In the energy sector, Amigo LNG, an Australian portfolio company, is set to increase its contracted export volumes from a Mexican project to 1 million tonnes per annum. This expansion signals a growing trend in liquefied natural gas (LNG) trade flows. However, the shipping industry also reported some downturns. Dry bulk rates for Capesize and Panamax vessels decreased by approximately 1% and 2%, respectively. Tanker rates presented a mixed picture, with Very Large Crude Carrier (VLCC) rates rising by about 5%, while Suezmax rates remained stable.