Weekly Freight Report: March 20, 2026

This week’s freight landscape is defined by two colliding forces: the near-total shutdown of the Strait of Hormuz reshaping global oil and cargo flows, and a domestic truckload market posting its seventh straight monthly rate increase. The Iran conflict has triggered a Jones Act waiver, cascading container rate increases on Drewry’s World Container Index, and an urgent scramble among Gulf importers to find alternative routing. On the trade policy front, the Supreme Court struck down IEEPA tariffs, triggering a major tariff refund order from the Court of International Trade and a fresh wave of Section 301 investigations as the administration seeks a legally durable path to reimpose duties. Dive into the full update to see what’s driving costs, disrupting capacity, and reshaping global trade lanes.

DAT: Truckload Spot Rates Post Seventh Straight Monthly Gain

Spot van rates hit $2.41/mile in February, rising for the seventh consecutive month as winter storms tightened capacity and diesel climbed to $3.71/gallon. The spread between spot and contract van rates is now the narrowest since March 2022, a signal that the market is moving toward equilibrium.

Trump Waives Jones Act Shipping Rules for 60 Days to Steady Oil Market

President Trump invoked a 60-day Jones Act waiver allowing foreign-flagged vessels to carry goods between U.S. ports, responding to fuel supply pressure from the Iran conflict and Hormuz closure. For domestic shippers, the move opens coastal routing options and could put modest downward pressure on freight costs.

Trump Administration Launches Section 301 Trade Probes Into Mexico, China, EU, and Others

Following the Supreme Court’s invalidation of IEEPA tariffs, the administration launched sweeping Section 301 investigations targeting China, Mexico, the EU, and more than 14 other economies as a legally durable path to reimposing duties. Section 301 tariffs carry stronger statutory footing than IEEPA actions, and importers should track these probes closely as they could produce new, sustained duties.

Traffic Is Trickling Through Strait of Hormuz: Who's Moving and Who's Stranded

Only 21 tankers have transited the Strait of Hormuz since the Iran conflict began, down from hundreds per day, creating a near-total de facto blockade affecting roughly 20% of global oil trade. Shipowners are scrambling for contingency ports and inland networks, triggering cascading congestion across the region’s secondary hubs.

Gulf Importers Race to Reroute as Hormuz Closure Jolts Supply Chains

Importers across the Persian Gulf are urgently securing alternative routes for food, medicine, and industrial supplies as the Hormuz closure cuts off key port access. The disruption is a live case study in supply chain fragility and the real cost of geopolitical risk for any importer with Middle East sourcing or transit exposure.

Court of International Trade Orders Tariff Refunds for All IEEPA Importers

Following the Supreme Court’s ruling in Learning Resources v. Trump, the Court of International Trade directed the government to refund IEEPA tariffs to virtually all importers of record, with interest accruing at roughly $650 million per month. Importers who paid reciprocal tariff duties should consult counsel now to ensure they are positioned to receive refunds.

Weekly Freight Report: March 20, 2026

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