## Company Profile MORARTE INTERNACIONAL — Spanish freight forwarder (maritime & air). Contact: Oriol Poch Ruiz, RESP. MARÍTIMO/AÉREO. Public evidence in industry listings (Diario del Puerto CARGAS-PROYECTO 2025). Appears to operate export/import forwarding out of Spain (Valencia/Barcelona/Algeciras corridors), handling maritime (container, ro‑ro/short‑sea) and air shipments; scale not published in lead data (likely SME forwarder serving agri‑food and industrial shippers). ## Pain Points 1) Time‑sensitive perishables risk: MORARTE’s customers (soft fruit, early vegetables, citrus, seafood) face Q1–Q2 peak season pressure and greater schedule unreliability because Mediterranean feeders/transshipment (Algeciras/Valencia/Barcelona) show episodic congestion and slower equipment circulation — missed vessel windows mean quality loss or urgent (expensive) air fallback. 2) ETS & freight cost uncertainty: EU ETS step‑up to 70% coverage in 2026 (100% in 2027) is driving carriers to add volatile ETS/bunker surcharges and reprice short‑sea legs disproportionately. MORARTE’s clients and their tenders need packaging/hedging options and routing alternatives to protect margins. 3) Air capacity & price spikes on peak weeks: Europe air capacity has expanded overall in 2026 but belly‑space competition on long‑haul and fuel/hub disruptions can produce rate spikes for Spain→UK/Nordics perishables. Small/medium exporters lack continuous market intelligence and quick alternative buyer/route sourcing. ## Intel Summary === MULTI-DIMENSION RESEARCH === === 1. [MARKET EVENTS] Spain container & ro‑ro ports (Valencia, Algeciras, Barcelona) & Med feeder services, 2026 === **Overall cargo & container position (Spain, 2025–Q1 2026)** - Spain’s five largest ports handled **322.8 million tonnes in 2025**, ~**58% of all Spanish port cargo**. Algeciras led with **100.71m t (18.1%)**, Valencia **80.67m t (14.5%)**, Barcelona **56.7m t (10.4%)**.([portseurope.com](https://www.portseurope.com/spanish-ports-2025-by-increase-fall-and-growth/?utm_source=openai)) - Jan–Apr 2026: Spanish ports moved **181.9m tonnes** (‑2.7% YoY). Algeciras led container traffic with **1,568,696 TEU (+8.5% vs 2025)**; Valencia ranked second in total tonnage with **25.77m t (‑3.3%)**, Barcelona third with **23.89m t (+6%)** and the strongest growth among the big three.([elestrechodigital.com](https://www.elestrechodigital.com/en/2026/05/25/the-spanish-ports-moderate-the-decline-in-traffic-until-april-with-1819-million-tons?utm_source=openai)) **Ro‑ro traffic (short‑sea / automotive relevance)** - Jan–Feb 2026 ro‑ro throughput in Spain’s state ports: **11.15m tonnes**, down **5.31% YoY**.([elestrechodigital.com](https://www.elestrechodigital.com/2026/03/27/los-puertos-espanoles-mueven-59-millones-de-toneladas-de-trafico-ro-ro-en-febrero-con-el-puerto-de-algeciras-al-frente?utm_source=openai)) - **Algeciras**: largest ro‑ro hub, **2.277m t** Jan–Feb 2026 (‑3.61%). - **Valencia**: ~**2.013m t** (3rd in Spain), **‑7.03% YoY**. - **Barcelona**: **1.673m t**, **‑3.73% YoY**.([elestrechodigital.com](https://www.elestrechodigital.com/2026/03/27/los-puertos-espanoles-mueven-59-millones-de-toneladas-de-trafico-ro-ro-en-febrero-con-el-puerto-de-algeciras-al-frente?utm_source=openai)) - Industry commentary notes a **surge in ro‑ro traffic at Algeciras** linked to growing EU–West Africa trade, making it a key hub for vehicle and trailer‑borne flows across the Strait.([blogs.tarangya.com](https://blogs.tarangya.com/navigating-the-blue-superhighway-major-ports-around-mediterranean-sea/?utm_source=openai)) **Feeder network dynamics & congestion signals (western Mediterranean, 2026)** - April 2026 Sogese Container Market Update characterizes **Mediterranean feeder networks as “Europe’s new container bottleneck”**: - Not a true box oversupply, but **effective capacity reduced** by slower equipment circulation, inland congestion and depot delays. - Growing share of Asia–Europe volumes is being routed via **western Med transshipment hubs (Algeciras, Tanger‑Med)**, increasing pressure on feeder schedules into Spain/Med.([cyprusshippingnews.com](https://cyprusshippingnews.com/2026/04/15/mediterranean-feeder-networks-emerge-as-europes-new-container-bottleneck-sogese-report/?utm_source=openai)) - A 2026 ranking of Mediterranean ports highlights: - **Valencia** as the **busiest Med container port** and a major **feeder hub into the Black Sea and Balkans**. - **Algeciras** as a transshipment‑heavy gateway (around **85% of container traffic is transshipment**), with rising ro‑ro and strong relay to Med and Atlantic islands. - **Barcelona** as a diversified multimodal/automotive port (~**3.7m TEU**; figure is rounded/indicative) with deep‑sea + short‑sea mix.([shiphub.co](https://www.shiphub.co/the-biggest-ports-in-spain/?utm_source=openai)) **Live congestion and disruption indicators (2026)** - **Port of Barcelona – congestion & hinterland issues** - Live‑tracking data for **17–23 May 2026** (Portcast) shows **measurable vessel waiting times** at Barcelona vs historical norms, indicating episodic congestion.([portcast.io](https://www.portcast.io/port-congestion/barcelona?utm_source=openai)) - Separate reporting notes **January 2026 rail disruptions** (Rodalies accident, Rubí tunnel damage) that stranded “tens of thousands of tonnes” of cargo bound for France/Europe, temporarily limiting hinterland evacuation capacity and adding yard pressure.([reddit.com](https://www.reddit.com/r/bcnenglishspeakers/comments/1r8inag/port_of_barcelona_reports_january_2026_traffic/?utm_source=openai)) - **Algeciras & Valencia – high volumes, but congestion contained via operational measures** - Latest Spanish port stats (to April 2026) show **robust growth in Algeciras TEUs (+8.5%)** and strong tonnage growth at Barcelona (+6%) despite a national traffic dip, evidencing **resilient throughput rather than gridlock**.([elestrechodigital.com](https://www.elestrechodigital.com/en/2026/05/25/the-spanish-ports-moderate-the-decline-in-traffic-until-april-with-1819-million-tons?utm_source=openai)) - A 2026 Spanish‑ports special report notes **digital truck appointment systems at TTI Algeciras** to smooth gate flows and mitigate peak‑hour congestion.([transportexxi.com](https://www.transportexxi.com/wp-content/uploads/2026/04/TransporteXXI-SP-Spanish-Ports-2026-web.pdf?utm_source=openai)) - **Network‑level congestion (wider Med)** - Freightos data (Mar 2026) shows **Asia–Med spot rates stable** but mentions serious delays in alternative Middle East/UAE hubs (e.g., >1‑week waits at Khor Fakkan). While not Spain‑specific, these upstream disruptions **cascade into western Med schedules**, tightening feeder turn‑times and increasing schedule unreliability into Spanish ports.([reddit.com](https://www.reddit.com/r/zim/comments/1s3joqa/freightos_weekly_update_march_25_2026_excerpts/?utm_source=openai)) **Operational & connectivity signals for feeder services** - CMA‑CGM schedule data for Feb 2026 confirms **dense short‑sea feeder patterns from Valencia**, including dedicated “Europe Feeder” and “Spain Portugal Express” services with **narrow cut‑offs (often 2 days before ETA)**, indicating fully‑utilized rotations and sensitivity to any delay.([cma-cgm.com](https://www.cma-cgm.com/ebusiness/schedules/port/export?countryCode=ES&delayFrom=2&delayTo=14&fileType=pdf&isDeparture=True&utm_source=openai)) - UNCTAD’s Port Liner Shipping Connectivity Index (PLSCI), as reported in early 2026, shows: - **Valencia** ranked **4th in Europe for connectivity**, ahead of Algeciras and Barcelona. - **Algeciras** slipping from 5th to **6th place in Q1 2026**, reflecting competition and some network reshaping rather than physical congestion per se.([reddit.com](https://www.reddit.com/r/u_elestrechodigital/comments/1s3mntd/el_puerto_de_algeciras_cede_ante_bremerhaven_y/?utm_source=openai)) **Implications for perishable exporters (2026)** - **No evidence of chronic “terminal gridlock”** at Valencia, Algeciras or Barcelona in 2026 so far; rather: - **Short‑term congestion spikes** linked to rail issues (Barcelona) and to wider Mediterranean feeder and equipment imbalances.([cyprusshippingnews.com](https://cyprusshippingnews.com/2026/04/15/mediterranean-feeder-networks-emerge-as-europes-new-container-bottleneck-sogese-report/?utm_source=openai)) - **Risk points for 2026–27**: - Higher share of cargo funneled via **Algeciras transshipment + Med feeders** raises exposure to schedule slippage for time‑sensitive reefer boxes (citrus, stonefruit, veg) moving on indirect routings to North Europe. - Ro‑ro flows at Algeciras/Valencia are sizable and declining slightly YoY, which can **free some berth capacity** but also reflects softer demand on some short‑sea lanes.([elestrechodigital.com](https://www.elestrechodigital.com/2026/03/27/los-puertos-espanoles-mueven-59-millones-de-toneladas-de-trafico-ro-ro-en-febrero-con-el-puerto-de-algeciras-al-frente?utm_source=openai)) **Key quantitative takeaways (2026 YTD)** - Spain ro‑ro Jan–Feb 2026: **11.15m t (‑5.3% YoY)**; Algeciras 2.28m t (‑3.6%), Valencia ~2.01m t (‑7.0%), Barcelona 1.67m t (‑3.7%).([elestrechodigital.com](https://www.elestrechodigital.com/2026/03/27/los-puertos-espanoles-mueven-59-millones-de-toneladas-de-trafico-ro-ro-en-febrero-con-el-puerto-de-algeciras-al-frente?utm_source=openai)) - Jan–Apr 2026 containers: **Algeciras 1.57m TEU (+8.5%)**; Valencia & Barcelona tonnage: **25.77m t (‑3.3%)** and **23.89m t (+6%)** respectively.([elestrechodigital.com](https://www.elestrechodigital.com/en/2026/05/25/the-spanish-ports-moderate-the-decline-in-traffic-until-april-with-1819-million-tons?utm_source=openai)) - Structural: Valencia = **Spain’s largest container port (~4.8–5.4m TEU/year)**; Algeciras = **largest port by tonnage (~100m t/year, >80% transshipment)**; Barcelona ≈ **2.5–3.7m TEU**, strong automotive/ro‑ro mix.([portseurope.com](https://www.portseurope.com/spanish-ports-2025-by-increase-fall-and-growth/?utm_source=openai)) **Sources (Market Events)** ([elestrechodigital.com](https://www.elestrechodigital.com/2026/03/27/los-puertos-espanoles-mueven-59-millones-de-toneladas-de-trafico-ro-ro-en-febrero-con-el-puerto-de-algeciras-al-frente?utm_source=openai)) === 2. [DEMAND SIGNALS] Europe air freight capacity 2026, perishables from Spain to UK & Nordics; seasonal peaks; avian influenza impact === **Macro air‑cargo demand & capacity (Europe, 2026 YTD)** - IATA, Jan 2026: - **Global cargo demand +5.6% YoY**; **capacity (ACTK) +3.6% YoY** (+5.7% for international). - European carriers account for **21.4% of global CTKs** (2025 share).([iata.org](https://www.iata.org/en/pressroom/2026-releases/2026-03-02-01/?utm_source=openai)) - Feb 2026: industry capacity up **8.5% YoY** (ACTK), continuing recovery and moderate expansion.([iata.org](https://www.iata.org/en/publications/economics/reports/air-cargo-market-analysis-february-2026/?utm_source=openai)) - March 2026: IATA notes **both demand and capacity dipped vs Feb**, but Asia–Europe and intra‑Asia lanes remained relatively strong; no Europe‑specific capacity collapse is reported.([portcalls.com](https://portcalls.com/global-air-cargo-demand-capacity-fall-in-march-2026-iata/?utm_source=openai)) - A 2025–26 sector outlook (Lufthansa Group) projects **~3% global airfreight CTK growth in 2026** and **~4% growth in Europe**, but warns that **capacity growth will remain “moderate”** because of external bottlenecks (air traffic control, fleet limits).([report.lufthansagroup.com](https://report.lufthansagroup.com/2025/annual-report/en/combined-management-report/forecast/sector-outlook/?utm_source=openai)) **Route‑level signals relevant to Spain–UK & Spain–Nordics perishables** - Transport Research Advisory analysis of IATA route statistics for Jan 2026 shows **cargo capacity growth on all major air trade lanes except Far East–North America**, including **Europe–Far East, Europe–North America and Europe–Middle East**; while not Spain‑specific, it implies that **Europe‑inbound and outbound widebody belly capacity is up YoY**, easing some pressure on feeder legs from Spain.([istat.org](https://www.istat.org/Portals/0/ISTAT%20Online/Session%20PDFs/2026_03_17%20Freighter%20Aircraft%20Market%20Outlook%20per%20Transport%20Research%20Advisory%20-PPT.pdf?ver=PDNQJFSji7Tahm9PC-BTIg%3D%3D&utm_source=openai)) - TradingEconomics data confirm Spain’s **fruit & nut exports to the UK** remain structurally large; the 2024 value is in the **low‑single‑billion‑euro range**, with series last updated May 2026. While most moves by truck/sea, **high‑value berries and off‑season stonefruit use air**, pointing to **steady baseline demand for Spain–UK perishables uplift in Q1–Q2 2026**.([tradingeconomics.com](https://tradingeconomics.com/spain/exports/united-kingdom/edible-fruits-nuts-peel-citrus-fruit-melons?utm_source=openai)) **Seasonal peaks – Spain to UK & Nordics (indicative 2026 outlook)** No single source breaks out *only* Spain‑origin air perishables by destination, but triangulating horticulture patterns and capacity data: - **Spain–UK**: - Peak **soft fruit (strawberries, blueberries, raspberries)** exports from Huelva, Murcia and Valencia generally **Feb–May**, with air used for earliest and premium shipments. Given global CTK up **5–11% YoY in Jan–Feb 2026** and European capacity up mid‑single digits, expect **tight but serviceable capacity for Q1–Q2 berry seasons**, especially around **Easter (Apr 2026)** and UK bank holidays.([iata.org](https://www.iata.org/en/pressroom/2026-releases/2026-03-02-01/?utm_source=openai)) - **Spain–Nordics**: - Nordics rely heavily on Spanish **early vegetables, salad crops and berries** during the dark season (roughly **Jan–Apr**). As sea/truck transit times are long and weather‑sensitive, airfreight is used for **promo volumes and stock recovery after weather shocks**. - With **moderate capacity growth and some rerouting around Middle Eastern hubs**, shippers may face **rate spikes in Q1–Q2 2026** but **no systemic capacity shortfall** is flagged in current reports.([airfreightprice.com](https://airfreightprice.com/blog/iata-air-cargo-demand-growth-february-2026/?utm_source=openai)) **Rate & capacity pressure drivers (2026)** - IATA and market commentary note that **rising fuel costs and Gulf hub disruptions** (linked to regional instability) are raising **Asia–Europe and Asia–NA airfreight rates** and **could dampen capacity additions**.([airfreightprice.com](https://airfreightprice.com/blog/iata-air-cargo-demand-growth-february-2026/?utm_source=openai)) - For Spain‑origin exporters, this matters via: - **Belly‑hold capacity on Europe–Asia and Europe–NA long‑haul**: when long‑haul gets tighter or more profitable, airlines can re‑weight widebody deployment away from **short‑haul intra‑Europe**. That can **limit incremental lift** on Spain–UK/Nordic feeders in peak weeks, pushing more perishables into **narrowbody capacity with higher €/kg**. **Avian influenza (HPAI) – impact on export demand & air‑freight mix** - EFSA reports **exceptionally high HPAI detections in wild birds in autumn 2025**: - 1,443 HPAI A(H5) detections in wild birds across 26 countries between **6 Sep–14 Nov 2025** (4× 2024 levels).([efsa.europa.eu](https://www.efsa.europa.eu/en/news/avian-influenza-europe-enhanced-surveillance-and-strict-biosecurity-needed-detections-surge?utm_source=openai)) - 2,896 HPAI detections (2,454 wild, 442 domestic birds) in Europe between **6 Sep–28 Nov 2025**.([efsa.europa.eu](https://www.efsa.europa.eu/en/efsajournal/pub/9834?utm_source=openai)) - By early 2026, EFSA notes that **detections in birds began to decline**, with outbreaks mostly from wild‑to‑farm spillover and **limited farm‑to‑farm spread**.([reddit.com](https://www.reddit.com/r/H5N1_AvianFlu/comments/1rrxrtw/avian_influenza_detections_in_birds_decline/?utm_source=openai)) - European Commission meat/eggs factsheet (updated Feb 2026) and a USDA‑FAS poultry outlook (Mar 2026) show: - **EU poultry meat production expected to grow 1.3% in CY 2026**, after 3% in 2025, as **disease pressure eases** and biosecurity improves.([thepoultrysite.com](https://www.thepoultrysite.com/news/2026/03/eu-chicken-output-set-to-grow-as-disease-pressure-eases?utm_source=openai)) - Some export restrictions due to HPAI remain, but many **third‑country bans have been lifted**, and **EU exports are forecast to decline mostly on competitiveness, not purely disease**.([apps.fas.usda.gov](https://apps.fas.usda.gov/newgainapi/api/Report/DownloadReportByFileName?fileName=Poultry+and+Products+Annual_Paris_European+Union_E42025-0004&utm_source=openai)) - Demand‑side inference for airfreight: - In **2023–24**, acute HPAI episodes pushed **urgent poultry shipments and day‑old chicks** into airfreight from certain origins. - Current 2026 outlook suggests **normalization rather than new demand spikes**: modest production growth and gradual reopening (e.g., EU’s resumption of Brazilian poultry imports in late 2025) reduce the need for emergency airlift.([euronews.com](https://www.euronews.com/my-europe/2025/09/24/eu-restores-brazilian-poultry-imports-after-avian-flu-outbreak-closed-the-market?utm_source=openai)) - For **Spain‑origin** meat/egg exports, this implies **steady or slightly softer air demand for HPAI‑driven urgent exports** vs peak crisis years, while **fruit/veg/seafood** continues to be the main driver of Spain–UK/Nordic air‑perishable flows. **Net 2026 demand signal for Spain‑origin perishables by air** - **Capacity**: Europe‑wide ACTK up **~4–9% YoY in early 2026**, with no evidence of structural cuts on intra‑European lanes.([iata.org](https://www.iata.org/en/pressroom/2026-releases/2026-03-02-01/?utm_source=openai)) - **Demand**: Global CTK up **5–11% YoY Jan–Feb 2026**; Asia‑linked lanes strongest, but Europe is positive.([iata.org](https://www.iata.org/en/pressroom/2026-releases/2026-03-02-01/?utm_source=openai)) - **Perishables from Spain to UK/Nordics**: - **Seasonal peak Q1–Q2 2026** (berries, early veg). - Expect **firm to rising rates on critical weeks** as long‑haul competition for belly capacity intensifies, but **no broad capacity crunch** indicated. - **HPAI**: After the 2025 peak, **detections now easing** and **EU poultry production rising**, so HPAI is **no longer a primary driver of incremental airfreight demand**, more a background sanitary risk.([efsa.europa.eu](https://www.efsa.europa.eu/en/efsajournal/pub/9834?utm_source=openai)) **Sources (Demand Signals)** ([iata.org](https://www.iata.org/en/pressroom/2026-releases/2026-03-02-01/?utm_source=openai)) === 3. [TIMING SIGNALS] EU shipping regulation 2026–2027: ETS for maritime & impact on freight costs for Spain’s exporters === **EU ETS for maritime – phasing & deadlines** - The EU ETS was extended to maritime transport from **1 January 2024**. Compliance is phased: - **2025 emissions**: ship operators must surrender allowances for **40%** of verified CO₂ emissions (reporting year 2024). - **From 1 January 2026**: obligation rises to **70% of verified emissions**. - **From 2027 onward**: **100% of emissions** must be covered by EUAs (full exposure).([clecat.org](https://www.clecat.org/en/news/newsletters/eu-ets-maritime-cost-exposure-increases-as-of-1-ja?utm_source=openai)) - GHG scope: - Only **CO₂** counted in 2024–2025; **CH₄ and N₂O** are added from **2026** for relevant ship types.([climate.ec.europa.eu](https://climate.ec.europa.eu/eu-action/transport-decarbonisation/reducing-emissions-shipping-sector/faq-maritime-transport-eu-emissions-trading-system-ets_bg?utm_source=openai)) - Geographic scope: - **100% of emissions** on voyages **between EU/EEA ports**, plus at‑berth. - **50% of emissions** on voyages **between an EU port and a non‑EU port**.([climate.ec.europa.eu](https://climate.ec.europa.eu/eu-action/transport-decarbonisation/reducing-emissions-shipping-sector/faq-maritime-transport-eu-emissions-trading-system-ets_bg?utm_source=openai)) **Key compliance milestones (shipping companies & indirect impact on exporters)** - Monitoring, reporting and verification (MRV) is already mandatory since 2024; shipping companies receive verified emissions data the following year and must surrender EUAs **by 30 September** of the year after the emissions year (same pattern as other ETS sectors).([climate.ec.europa.eu](https://climate.ec.europa.eu/eu-action/transport-decarbonisation/reducing-emissions-shipping-sector/faq-maritime-transport-eu-emissions-trading-system-ets_bg?utm_source=openai)) - From 2026: - Shipping firms must hold **Maritime Operator Holding Accounts (MOHAs)** in the Union Registry and **forecast EUA needs** at 70% coverage, impacting freight contracts signed for **2026 sailings**.([climate.ec.europa.eu](https://climate.ec.europa.eu/eu-action/transport-decarbonisation/reducing-emissions-shipping-sector/faq-maritime-transport-eu-emissions-trading-system-ets_bg?utm_source=openai)) - Non‑compliance for **two consecutive reporting periods** can trigger **port‑state “expulsion orders”**, banning the ship from EU ports – a significant enforcement risk feeding into charter and freight rate premiums.([climate.ec.europa.eu](https://climate.ec.europa.eu/eu-action/transport-decarbonisation/reducing-emissions-shipping-sector/faq-maritime-transport-eu-emissions-trading-system-ets_bg?utm_source=openai)) **Cost impact estimates – order of magnitude** - CLECAT notes that the **step‑up from 40% (2025) to 70% (2026) and 100% (2027)** substantially increases cost exposure for carriers and, indirectly, shippers and forwarders.([clecat.org](https://www.clecat.org/en/news/newsletters/eu-ets-maritime-cost-exposure-increases-as-of-1-ja?utm_source=openai)) - Independent analyses (e.g., shipping‑investor briefings) estimate that at full 100% coverage and EUA ≈ **€80/t CO₂**, a **10,000 TEU Asia–EU container ship** could face **€7–11 million/year** in ETS costs, or roughly **6–7% of base freight rates** (and potentially up to **~12%** if base rates drop back to pre‑crisis levels).([reddit.com](https://www.reddit.com/r/ShippingStocks/comments/1rlcxkm/2026_is_the_year_shipping_regulation_gets_real_eu/?utm_source=openai)) - Under the **70% coverage in 2026**, this implies **~4–5% uplift** vs a no‑ETS baseline on heavily exposed deep‑sea legs. - For **short‑sea / intra‑EU** routes (e.g., Spain–North Europe or Spain–Med), the ETS cost share can be **higher as a % of freight**, because fuel and voyage emissions are a larger portion of the total cost base relative to terminal/handling charges. **Specific implications for Spain‑based exporters (Valencia, Algeciras, Barcelona)** - **Trades most exposed (from Spain):** - **Asia–Europe deep‑sea exports/imports via Valencia & Algeciras**: 50% of intercontinental leg emissions fall within ETS; from 2026, **70% of that 50% must be covered**, effectively raising linehaul costs that will filter into **Bunker Adjustment / ETS surcharges** on freight invoices. - **Intra‑EU Med & North‑Europe feeders** (e.g., Valencia–Rotterdam, Barcelona–UK/North Europe): 100% of voyage emissions are within scope, making **short‑sea and feeder services particularly ETS‑cost sensitive** from 2026–27.([blogs.tarangya.com](https://blogs.tarangya.com/navigating-the-blue-superhighway-major-ports-around-mediterranean-sea/?utm_source=openai)) - **Port choice & routing timing signals (2026–27):** - Transshipment via **non‑EU hubs** (e.g., Tanger‑Med) combined with **shorter EU leg** may be used by some carriers to **optimize ETS exposure**, but any EU‑bound segment still faces 50–100% covered emissions. For Spanish exporters, this may manifest as: - More services calling **Algeciras (EU) + non‑EU transshipment hubs**, redistributing ETS costs across legs.([cyprusshippingnews.com](https://cyprusshippingnews.com/2026/04/15/mediterranean-feeder-networks-emerge-as-europes-new-container-bottleneck-sogese-report/?utm_source=openai)) - **Differentiated surcharges** by route: intra‑EU short‑sea (e.g., fruit/veg in reefers to North Europe) could see **higher €/container ETS add‑ons** than long‑haul where other cost elements dilute the ETS portion. **Interaction with other 2026–27 EU trade/green rules (timing context)** While not shipping‑specific, other 2026 regulations shape the overall compliance landscape for agri‑food exporters from Spain: - **CBAM (Carbon Border Adjustment Mechanism)** - Entered its **definitive (compliance) period on 1 January 2026**, after a 2023–25 transitional phase. The **first declaration & certificate surrender deadline is 30 September 2027** for emissions embedded in **2026 imports**.([reddit.com](https://www.reddit.com/r/Pennystock/comments/1rfz98g/cbam_is_now_in_its_2026_definitive_period_does/?utm_source=openai)) - Relevance to food exporters is limited (CBAM currently covers steel, cement, aluminium, fertilizers, electricity, hydrogen), but it **signals a broader EU carbon‑cost pass‑through environment** in which **ETS surcharges on freight will be politically easier to maintain**. - **EUDR (Deforestation Regulation) simplification – 2026 rollout** - Recent adjustments aim to **cut compliance costs by ~75%** via simplified due diligence and clearer IT systems, ahead of a **high‑stakes 2026 implementation**; for commodity exporters (coffee, cocoa, palm, etc.), this shifts focus to data/reporting rather than pure logistics, but reinforces the trend toward **higher compliance overhead per shipment**.([reddit.com](https://www.reddit.com/r/SustainableCocoa/comments/1t4k7w0/eudr_simplification_cuts_75_of_compliance_costs/?utm_source=openai)) **Practical timing & cost‑management signals for 2026–27 contracting** - **2026 contracts & tenders**: - For shipments sailing in **calendar 2026**, exporters should expect **ETS surcharges calibrated to 70% EUA coverage** and **EUA price volatility**; many carriers quote ETS as a **floating line item reviewed quarterly**. - **2027 forward bookings**: - From **1 Jan 2027**, ETS hits **100% coverage**, so any **multi‑year freight tenders signed in late 2025–2026** should **explicitly address ETS cost pass‑through** (indexing against EUA price or adopting caps/bands). - **Modal choices from Spain**: - For **high‑value or time‑sensitive reefer exports (fruit, veg, seafood)** from Valencia/Barcelona to North Europe and UK, the relative increase in **short‑sea ETS cost share** might marginally improve the case for **air** on peak weeks – but absolute air vs sea cost differentials remain very large. - For **bulk and low‑margin agri‑commodities** (grains, oils, feed), ETS will be a **non‑trivial share of freight (>5% on some routes at €80–100/EUA)**, reinforcing incentives to **optimize vessel size, routeing, and load factor**, and to **time shipments away from EUA price spikes**.([clecat.org](https://www.clecat.org/en/news/newsletters/eu-ets-maritime-cost-exposure-increases-as-of-1-ja?utm_source=openai)) **Sources (Timing Signals)** ([clecat.org](https://www.clecat.org/en/news/newsletters/eu-ets-maritime-cost-exposure-increases-as-of-1-ja?utm_source=openai)) **Sources:** • Spanish ports 2025: by increase, fall and % growth https://www.portseurope.com/spanish-ports-2025-by-increase-fall-and-growth/?utm_source=openai • Spanish ports moderate the decline in traffic until April with 181.9 million tons accumulated https://www.elestrechodigital.com/en/2026/05/25/the-spanish-ports-moderate-the-decline-in-traffic-until-april-with-1819-million-tons?utm_source=openai • Los puertos españoles mueven 5,9 millones de toneladas de tráfico ro-ro en febrero, con el puerto de Algeciras al frente https://www.elestrechodigital.com/2026/03/27/los-puertos-espanoles-mueven-59-millones-de-toneladas-de-trafico-ro-ro-en-febrero-con-el-puerto-de-algeciras-al-frente?utm_source=openai • Los puertos españoles mueven 5,9 millones de toneladas de tráfico ro-ro en febrero, con el puerto de Algeciras al frente https://www.elestrechodigital.com/2026/03/27/los-puertos-espanoles-mueven-59-millones-de-toneladas-de-trafico-ro-ro-en-febrero-con-el-puerto-de-algeciras-al-frente?utm_source=openai • Major Ports Around Mediterranean Sea: 2026 Rankings & Trends https://blogs.tarangya.com/navigating-the-blue-superhighway-major-ports-around-mediterranean-sea/?utm_source=openai • - Cyprus Shipping News https://cyprusshippingnews.com/2026/04/15/mediterranean-feeder-networks-emerge-as-europes-new-container-bottleneck-sogese-report/?utm_source=openai • The Biggest Seaports in Spain | ShipHub https://www.shiphub.co/the-biggest-ports-in-spain/?utm_source=openai • Port congestion at Barcelona | Live Delays & Vessel Wait Times https://www.portcast.io/port-congestion/barcelona?utm_source=openai • Port of Barcelona Reports January 2026 Traffic Figures Amid Rail Disruptions https://www.reddit.com/r/bcnenglishspeakers/comments/1r8inag/port_of_barcelona_reports_january_2026_traffic/?utm_source=openai • Spanish ports moderate the decline in traffic until April with 181.9 million tons accumulated https://www.elestrechodigital.com/en/2026/05/25/the-spanish-ports-moderate-the-decline-in-traffic-until-april-with-1819-million-tons?utm_source=openai • SPECIAL EDITION https://www.transportexxi.com/wp-content/uploads/2026/04/TransporteXXI-SP-Spanish-Ports-2026-web.pdf?utm_source=openai • Freightos Weekly Update - March 25, 2026 | Excerpts: “Asia-US West Coast prices (FBX01 Weekly) increased 3%.” | “Asia-US East Coast prices (FBX03 Weekly) increased 4%.” https://www.reddit.com/r/zim/comments/1s3joqa/freightos_weekly_update_march_25_2026_excerpts/?utm_source=openai • SPAIN Port Schedules https://www.cma-cgm.com/ebusiness/schedules/port/export?countryCode=ES&delayFrom=2&delayTo=14&fileType=pdf&isDeparture=True&utm_source=openai • El Puerto de Algeciras cede ante Bremerhaven y desciende al sexto puesto europeo en conectividad marítima según los datos de la UNCTAD https://www.reddit.com/r/u_elestrechodigital/comments/1s3mntd/el_puerto_de_algeciras_cede_ante_bremerhaven_y/?utm_source=openai • - Cyprus Shipping News https://cyprusshippingnews.com/2026/04/15/mediterranean-feeder-networks-emerge-as-europes-new-container-bottleneck-sogese-report/?utm_source=openai • Los puertos españoles mueven 5,9 millones de toneladas de tráfico ro-ro en febrero, con el puerto de Algeciras al frente https://www.elestrechodigital.com/2026/03/27/los-puertos-espanoles-mueven-59-millones-de-toneladas-de-trafico-ro-ro-en-febrero-con-el-puerto-de-algeciras-al-frente?utm_source=openai • Los puertos españoles mueven 5,9 millones de toneladas de tráfico ro-ro en febrero, con el puerto de Algeciras al frente https://www.elestrechodigital.com/2026/03/27/los-puertos-espanoles-mueven-59-millones-de-toneladas-de-trafico-ro-ro-en-febrero-con-el-puerto-de-algeciras-al-frente?utm_source=openai • Spanish ports moderate the decline in traffic until April with 181.9 million tons accumulated https://www.elestrechodigital.com/en/2026/05/25/the-spanish-ports-moderate-the-decline-in-traffic-until-april-with-1819-million-tons?utm_source=openai • Spanish ports 2025: by increase, fall and % growth https://www.portseurope.com/spanish-ports-2025-by-increase-fall-and-growth/?utm_source=openai • Los puertos españoles mueven 5,9 millones de toneladas de tráfico ro-ro en febrero, con el puerto de Algeciras al frente https://www.elestrechodigital.com/2026/03/27/los-puertos-espanoles-mueven-59-millones-de-toneladas-de-trafico-ro-ro-en-febrero-con-el-puerto-de-algeciras-al-frente?utm_source=openai • Los puertos españoles mueven 5,9 millones de toneladas de tráfico ro-ro en febrero, con el puerto de Algeciras al frente https://www.elestrechodigital.com/2026/03/27/los-puertos-espanoles-mueven-59-millones-de-toneladas-de-trafico-ro-ro-en-febrero-con-el-puerto-de-algeciras-al-frente?utm_source=openai • IATA - Air Cargo Demand up 5.6% in January 2026 https://www.iata.org/en/pressroom/2026-releases/2026-03-02-01/?utm_source=openai • IATA - Air Cargo Market Analysis February 2026 https://www.iata.org/en/publications/economics/reports/air-cargo-market-analysis-february-2026/?utm_source=openai • Global air cargo demand, capacity fall in March 2026 – IATA - PortCalls Asia https://portcalls.com/global-air-cargo-demand-capacity-fall-in-march-2026-iata/?utm_source=openai • Sector outlook https://report.lufthansagroup.com/2025/annual-report/en/combined-management-report/forecast/sector-outlook/?utm_source=openai • TRANSPORT RESEARCH ADVISORY https://www.istat.org/Portals/0/ISTAT%20Online/Session%20PDFs/2026_03_17%20Freighter%20Aircraft%20Market%20Outlook%20per%20Transport%20Research%20Advisory%20-PPT.pdf?ver=PDNQJFSji7Tahm9PC-BTIg%3D%3D&utm_source=openai • Spain Exports of edible fruits, nuts, peel of citrus fruit, melons to United Kingdom - 2026 Data 2027 Forecast 1989-2024 Historical https://tradingeconomics.com/spain/exports/united-kingdom/edible-fruits-nuts-peel-citrus-fruit-melons?utm_source=openai • IATA - Air Cargo Demand up 5.6% in January 2026 https://www.iata.org/en/pressroom/2026-releases/2026-03-02-01/?utm_source=openai • IATA Reports 11.2% Air Cargo Demand Growth in February 2026 – Air Freight Price https://airfreightprice.com/blog/iata-air-cargo-demand-growth-february-2026/?utm_source=openai • IATA Reports 11.2% Air Cargo Demand Growth in February 2026 – Air Freight Price https://airfreightprice.com/blog/iata-air-cargo-demand-growth-february-2026/?utm_source=openai • Avian influenza in Europe: enhanced surveillance and strict biosecurity needed as detections surge | EFSA https://www.efsa.europa.eu/en/news/avian-influenza-europe-enhanced-surveillance-and-strict-biosecurity-needed-detections-surge?utm_source=openai • Avian influenza overview September–November 2025 | EFSA https://www.efsa.europa.eu/en/efsajournal/pub/9834?utm_source=openai • IATA - Air Cargo Demand up 5.6% in January 2026 https://www.iata.org/en/pressroom/2026-releases/2026-03-02-01/?utm_source=openai • IATA - Air Cargo Demand up 5.6% in January 2026 https://www.iata.org/en/pressroom/2026-releases/2026-03-02-01/?utm_source=openai • Avian influenza overview September–November 2025 | EFSA https://www.efsa.europa.eu/en/efsajournal/pub/9834?utm_source=openai • IATA - Air Cargo Demand up 5.6% in January 2026 https://www.iata.org/en/pressroom/2026-releases/2026-03-02-01/?utm_source=openai • CLECAT | EU ETS MARITIME COST EXPOSURE INCREASES AS OF 1 JANUARY 2026 https://www.clecat.org/en/news/newsletters/eu-ets-maritime-cost-exposure-increases-as-of-1-ja?utm_source=openai n