ocean container shipping

War risk exclusions by insurers heighten stakes in Red Sea attacks

In early February, oil markets were lulled by hope of a now-unlikely ceasefire in the Israel-Hamas war. But a recent string of Houthi attacks have reignited concerns about the Red Sea crisis, raising the floor for tanker rates.

The Iran-aligned Houthis claimed responsibility for Friday’s attack on oil tanker M/T Pollux, which was bound for India. No injuries were reported.

This and other recent Houthi attacks, which followed a brief pause in early February, led major maritime insurer Steamship...

https://www.freightwaves.com/news/war-risk-exclusions-by-insurers-heighten-stakes-in-red-sea-attacks

Despite dim outlook, January imports grew at fastest pace in 7 years

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-1’).defineSizeMapping(gptSizeMaps.banner1).setCollapseEmptyDiv(true).addService(googletag.pubads());
gptAdSlots.push(gptSlot);
});

googletag.cmd.push(function() { googletag.display(‘div-gpt-ad-b1-i-fw-ad-1’); });

With geopolitical tensions rising around the Suez Canal and water levels dropping at the Panama...

https://www.freightwaves.com/news/despite-dim-outlook-january-imports-grew-at-fastest-pace-in-7-years

Red Sea turmoil drives Chinese exporters to rail, other alternatives

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-1’).defineSizeMapping(gptSizeMaps.banner1).setCollapseEmptyDiv(true).addService(googletag.pubads());
gptAdSlots.push(gptSlot);
});

googletag.cmd.push(function() { googletag.display(‘div-gpt-ad-b1-i-fw-ad-1’); });

A recent round of U.S. and British strikes on Houthi targets in Yemen raise fresh questions about...

https://www.freightwaves.com/news/red-sea-turmoil-drives-chinese-exporters-to-rail-other-alternatives

Is the Red Sea effect on container shipping being overblown?

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-7’).defineSizeMapping(gptSizeMaps.banner1).setCollapseEmptyDiv(true).addService(googletag.pubads());
gptAdSlots.push(gptSlot);
});

googletag.cmd.push(function() { googletag.display(‘div-gpt-ad-b1-i-fw-ad-7’); });

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

Red Sea-driven surge in container shipping rates loses momentum

map showing container ships diversions from Red Sea to Cape of Good Hope

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.

Location of container ships with capacity of 10,000...

https://www.freightwaves.com/news/red-sea-driven-surge-in-container-shipping-rates-loses-momentum

Container spot rates rocket even higher as Red Sea crisis drags on

chart of container rates

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

Container lines ‘scramble’ to rent more ships amid Red Sea crisis

chart of spot container freight 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-1’).defineSizeMapping(gptSizeMaps.banner1).setCollapseEmptyDiv(true).addService(googletag.pubads());
gptAdSlots.push(gptSlot);
});

googletag.cmd.push(function() { googletag.display(‘div-gpt-ad-b1-i-fw-ad-1’); });

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 lines had rough Q4 before Red Sea-driven rate rebound

a chart of OOCL revenue per container

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

West Coast shipping rates surge as Red Sea fallout goes global

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-1’).defineSizeMapping(gptSizeMaps.banner1).setCollapseEmptyDiv(true).addService(googletag.pubads());
gptAdSlots.push(gptSlot);
});

googletag.cmd.push(function() { googletag.display(‘div-gpt-ad-b1-i-fw-ad-1’); });

As Red Sea disruptions intensify, container shipping spot rates are rising on the other side of the...

https://www.freightwaves.com/news/west-coast-shipping-rates-surge-as-red-sea-fallout-goes-global

White House warns Red Sea turmoil could hit US economy

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-1’).defineSizeMapping(gptSizeMaps.banner1).setCollapseEmptyDiv(true).addService(googletag.pubads());
gptAdSlots.push(gptSlot);
});

googletag.cmd.push(function() { googletag.display(‘div-gpt-ad-b1-i-fw-ad-1’); });

WASHINGTON — The White House has warned that the potential for higher shipping costs to affect the...

https://www.freightwaves.com/news/white-house-warns-red-sea-turmoil-could-hit-us-economy

+ More