Shipping rates are soaring due to a surge of attacks in the Red Sea, leading to rerouted vessels and increased carbon dioxide emissions. Container freight futures index is hitting new highs, with spot rates at pandemic levels. Port congestion in Asia is exacerbating the situation, with Singapore facing berthing delays up to 7 days.
Port congestion returns to haunt the container markets. Impact of Red Sea crisis on longer transit, vessel turns, empty containers, bypassing ports, and alternate small ports used. Supply chain effect. https://t.co/sTjP9fqFF7
Box ships omitting Singapore call as port congestion hits critical level #logistics #shipping #freight https://t.co/HoJLAzMvBO
Port congestion returns to haunt the container markets #logistics #shipping #freight https://t.co/Fh5q0ZM3QU
“Port congestion has returned to haunt the container markets, with Singapore becoming the latest chokepoint,” warned a new report from Linerlytica, which notes berthing delays are now up to 7 days at the port... https://t.co/Lu50FgHdC8 via @splash_247
'The port congestion in Asia and the sudden surge in demand now soaks up even more capacity – capacity which the market does not have' https://t.co/WBO5yV3sW4
'Port congestion has returned to haunt the container markets, with Singapore becoming the latest chokepoint' https://t.co/WBO5yV3sW4
A surge of attacks on ships traveling the waters of the Red Sea is forcing shippers to reroute their vessels, sending them on longer journeys that drive up their carbon dioxide emissions. #RedSea https://t.co/OtzwPzleS7
Chinese #shipping companies rally on rising shipping rates. Shanghai Containerized Freight Index rose 7.2% last week to hit highest since Aug 2022. Analysts expect freight rates to remain high for longer period of time. https://t.co/haGgRmRP6L https://t.co/KfyTUsQwf3
A surge of attacks on ships traveling the waters of the Red Sea is forcing shippers to reroute their vessels, sending them on longer journeys that drive up their carbon dioxide emissions. More here: https://t.co/vEyE1sOmvi
Container Freight futures index up another 2.6% (on top of closing up 2.5% yesterday). The roll continues as the contract is almost at 4400. $ZIM $MAERSK $HLAG https://t.co/JM2sn6Gn1R
Global goods trade is showing signs of accelerating, pushing up shipping rates and giving some supply-chain managers flashbacks to the demand spike during the pandemic https://t.co/2Qo5UYkCTJ via @economics
Shipper fury as spot rates soar – and box lines ignore contracts #logistics #shipping #freight https://t.co/jHXa540SVD
Box spot rates ‘entering pandemic-level territory’ #logistics #shipping #freight https://t.co/r1NJYqIaPO
FT is reporting on the container rate spike. Zero surprise and they are of course 3-4 weeks behind as usual. HOWEVER, more mainstream coverage of the container situation we’ve all been seeing here for the past month. $ZIM $HLAG $MAERSK https://t.co/TKxDfl7EIr
Woo Hoo . . . #shipping rates rise thanx to Red Sea attacks. From today's @FT cc: @ed_fin @christankerfund @GardinerIsland @IslandGardiner https://t.co/LT2OYQxYxG
Trade strains boost cargo rates at a pace recalling Covid ‘chaos’ https://t.co/CHAAdMEksg via @b_muzz https://t.co/Lr0cne7QDH
🇬🇧 Shipping rates spike as businesses expect more Red Sea attacks https://t.co/2hmCwNjdrQ
Container freight futures index up another 1.2% to above 4200… very close to a brand new high. $ZIM $HLAG $MAERSK https://t.co/JEcSanSTLh