Cape of Good Hope

Maersk sees Red Sea routings as still too risky

Maersk is to continue to avoid Red Sea routings of it its ships. In an update today, it said that it would continue to send ships via the Cape of Good Hope and around the Africa rather than through the Houthi-threatened Red Sea and Bab el Mandeb Strait. It noted that while it welcomed the EU ASPIDES security operation as a “very positive development to increase the safety in the region,” its internal analysis, as well as insight received from external sources, “still indicates that the risk...

https://www.marinelog.com/legal/safety-and-security/maersk-sees-red-sea-routings-as-still-too-risky/

Are ocean spot rates past their peak?

2023 was a challenging year for ocean carriers, especially those that have spot exposure. They have seen significant slashes to revenue and profitability. 

Zim Integrated Shipping (NYSE: ZIM), a carrier with more spot exposure than some of the other large ocean carriers, saw a 61% year-over-year reduction in third-quarter revenue, and earnings before interest and taxes fell by $1.77 billion to a loss of $213 million. The Freightos Baltic Daily Index from China to the North American west coast...

https://www.freightwaves.com/news/have-ocean-spot-rates-passed-their-peak

Red Sea chaos should boost tanker and container shipping rates

googletag.cmd.push(function() { var gptSlot = googletag.defineSlot(‘/21776187881/FW-Responsive-Main_Content-Slot1’, [[728, 90], [468, 60], [300, 100], [320, 50]], ‘div-gpt-ad-b1-i-fw-ad-5’).defineSizeMapping(gptSizeMaps.banner1).setCollapseEmptyDiv(true).addService(googletag.pubads());
gptAdSlots.push(gptSlot);
});

googletag.cmd.push(function() { googletag.display(‘div-gpt-ad-b1-i-fw-ad-5’); });

The number of shipping companies refusing to risk Red Sea transits is growing by the day. The waters...

https://www.freightwaves.com/news/red-sea-chaos-could-boost-tanker-and-container-shipping-rates

Suez Congestion Aids Bunker Fuel Demands In Singapore

The Suez Canal logjam since the week starting March 21, caused by the Ever Given cargo vessel, could potentially increase bunker fuel demand in Singapore as more ships will likely divert around the Cape of Good Hope, making the city-port a feasible refueling destination, given the longer journey, reports S&P Global.

The blockage is no more

The Ever Given, an about 20,000 twenty-foot equivalent units container ship chartered by Taiwan’s Evergreen Marine, ran aground in the Suez Canal at about...

https://mfame.guru/suez-canal-blockage-may-help-increase-bunker-fuel-demand-in-singapore/

Everybody wants to talk — or laugh — about Suez Canal crisis

Everybody has an opinion — and social media allows for those opinions to be shared globally and instantly. In the case of the Ever Given stuck in the Suez Canal, there has been a flood of conjecture, lampoons and memes. (Yeah, we’ve seen the one with Austin Powers many times. Please don’t share it with us again.)

Apparently, the folks at the Suez Canal Authority (SCA) are seeing them as well. The SCA, of course, has its hands full trying to get the massive Ever Given, with a carrying capacity of...

https://www.freightwaves.com/news/everybody-wants-to-talk-or-laugh-about-suez-canal-crisis

Cape of Good Hope Routings Slow Down As Oil Rebounds!

industrial port with containers

According to a LoadStar article written by Mike Wackett, all three east-west vessel-sharing alliances have continued to route some vessels via the Cape of Good Hope to avoid Suez Canal fees, despite discounts that kicked in on 1 May.

The Carbon Footprint Challenge

However, several shippers have complained about the additional carbon footprint the extended journeys generate.

For example, a voyage from Asia to North Europe via the Cape adds some 3,000 miles and five to...

https://mfame.guru/cape-of-good-hope-routings-slow-down-as-oil-rebounds/

Carbon footprint concern and rising bunker prices slow Cape routings

All three east-west vessel-sharing alliances have continued to route some vessels via the Cape of Good Hope to avoid Suez Canal fees, despite discounts that kicked in on 1 May.
However, several shippers have complained about the additional carbon footprint the extended journeys generate.
For example, a voyage from Asia to North Europe via the Cape adds some 3,000 miles and five to 10 days to the transit time, resulting in the …

The post Carbon footprint concern and rising bunker prices slow Cape...

https://theloadstar.com/carbon-footprint-concern-and-rising-bunker-prices-slow-cape-routings/

Oil Tankers Favouring Cape of Good Hope Route To Cut Costs

Cape ot Good Hope Route
  • Supertanker New Vigorous arrived at a port in northern France Cape of Good Hope.
  • The journey takes almost twice the time as the usual route through the Suez Canal.
  • An increasing number of supertankers are taking the long route ahead.
  • Tankers are piling up as suppliers deal with the largest glut the world.
  • Storage options are running out with fuel at historically low prices.
  • It is cheaper than canals where tolls can run into the hundreds of thousands of dollars.
  • Suez canal temporarily increased...

https://mfame.guru/oil-tankers-favouring-cape-of-good-hope-route-to-cut-costs/

+ More
Join Our Newsletter
Enter your email to receive a weekly round-up of shipping news.
icon
By subscribing, you agree with our privacy policy and our terms of service.