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With geopolitical tensions rising around the Suez Canal and water levels dropping at the Panama...
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A recent round of U.S. and British strikes on Houthi targets in Yemen raise fresh questions about...
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No one disputes that the Red Sea crisis is massively diverting containerized goods around the Cape...
https://www.freightwaves.com/news/is-the-red-sea-effect-on-container-shipping-being-overblown
Mass diversions of container ships around Africa’s Cape of Good Hope caused spot rates to surge, but the Red Sea effect has a limit, which may have already been reached.
Upward momentum has slackened. Rates in most lanes have leveled off. Several indexes for European lanes have pulled back.
The Shanghai Containerized Freight Index (SCFI) dropped 2.7% in the week ending Friday versus the prior week, the first weekly drop since late November.
https://www.freightwaves.com/news/red-sea-driven-surge-in-container-shipping-rates-loses-momentum
With no end in sight for the Red Sea crisis, detours around Africa’s Cape of Good Hope are soaking up even more vessel capacity and pushing up spot rates across multiple shipping segments.
Freight fallout began with container ships. It is now significantly impacting product tankers — the vessels that transport gasoline, diesel, jet fuel, naphtha and other petroleum products.
Larger product tankers that do long-haul runs are diverting around Africa in increasing numbers. These ship types include...
https://www.freightwaves.com/news/shipping-fallout-from-red-sea-crisis-spreads-to-product-tankers
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COVID steered shipping markets in 2000-2022. Geopolitics has steered markets ever since — and future...
https://www.freightwaves.com/news/shipping-and-geopolitical-risk-dont-forget-about-korean-peninsula
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The Panama Canal has faded from the headlines amid all the focus on the Red Sea. But fallout to...
https://www.freightwaves.com/news/panama-canal-transits-sink-to-new-drought-driven-low-in-december
It’s now crystal clear that container ships will not return to the Red Sea anytime soon. Lengthy detours around the Cape of Good Hope have already pushed spot container rates far above pre-COVID levels, and rates continue to climb.
Yet another commercial ship was hit by Houthi rebels on Wednesday, the bulk carrier Genco Picardy, owned by New York-based Genco Shipping & Trading (NYSE: GNK). This was followed by another barrage of coalition airstrikes in Yemen, then more Houthi attacks on shipping...
https://www.freightwaves.com/news/container-spot-rates-rocket-even-higher-as-red-sea-crisis-drags-on
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Red Sea diversions mean container lines need more ships to carry the same amount of cargo. The...
https://www.freightwaves.com/news/container-lines-scramble-to-rent-more-ships-amid-red-sea-crisis
Container shipping stocks are back in vogue among retail traders, courtesy of Houthi rebel attacks in the Red Sea that suddenly changed the balance of transport supply versus cargo demand.
The share price of ocean carrier Zim (NYSE: ZIM) is bouncing around like a pinball as traders place bets on how the geopolitical chaos will play out.
But Red Sea disruptions won’t have a major effect on carrier financials until the first quarter of 2024 — and results for Q4 2023 will hit the market over the...
https://www.freightwaves.com/news/container-lines-had-rough-q4-before-red-sea-driven-rate-rebound