The Red Sea crisis has compelled shipping lines to reroute around the Cape of Good Hope, significantly extending sailing distances and consequently increasing transit times.
According to Sea-Intelligence, it is important to be cautious when assessing transit times, as impressive figures may be technically possible but often come with a caveat; they pertain to non-competitive port pairs that carriers do not typically market as such.
“For an apples-to-apples comparison, we need to look at the...
In March, the fleet absorption from vessel delays was 5.7% of the global fleet, translating to an improvement from the recent peak of 7.5% in January, according to the latest report by Danish shipping data analysis company Sea-Intelligence.
“When vessel delays occur, a percentage of the global vessel capacity is effectively absorbed and hence unavailable to the market,” explains Alan Murphy, CEO of Sea-Intelligence, adding that “historically, this percentage has tended to be within 1%-3%, with a...
https://container-news.com/improved-vessel-delays-may-release-more-capacity-sea-intelligence/
Clarksons’ latest container shipping report said that weak “underlying” supply-demand fundamentals will materialise once the Red Sea disruption regresses.
Boxship fleet growth is estimated at 9% this year, outpacing demand growth of approximately 4%.
In the second half of 2024, assuming that the Red Sea crisis has been resolved, the challenges seen after the Covid-19-fuelled boom could rear their head again.
Clarksons said, “The situation is fluid, but at present a resolution seems unlikely in the...
https://container-news.com/end-of-red-sea-crisis-to-reignite-container-shipping-challenges/
In the latest development in the Red Sea crisis, Houthis recently announced threats to expand their attacks to Indian Ocean traffic, aimed at disrupting vessel flows already diverting away from the Red Sea toward the Cape of Good Hope.
In the meantime, with most container traffic already avoiding the Suez Canal, demand easing, and operations stabilizing, ocean rates continued to decrease across the major trade lanes.
Weekly rate averages out of Asia last week fell another 7% to N. America and...
https://container-news.com/ocean-rates-keep-sliding-but-some-rebound-for-air-freightos-analysis/
The impact of the Red Sea crisis is less severe than Covid-19, although the TEU-mile boost has been significant.
Clarksons’ latest Container Intelligence Monthly stated that compared with December 2023, TEU-miles have gone up by around 11%, as around 620 ships of 8.5 million TEUs are rerouting from the Suez Canal to the Cape of Good Hope to avoid attacks from Houthi rebels.
Contextualised against Covid-19, where surging e-commerce sales and heightened inspections caused logistical bottlenecks...
https://container-news.com/red-sea-crisis-milder-than-covid-19-challenges-to-be-seen-in-2025/
Shell is the latest firm in a long line of companies, which decided to steer clear of the Red Sea shipping route in response to rising Houthi vessel attacks.
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