Red Sea crisis distorts container shipping market

Date Added: 23 February 2024

Red Sea crisis distorts container shipping market

The Seatrade Maritime website reports that the idle container ship fleet has contracted again as the crises in the Red Sea and Panama Canal suck capacity into service diversions and distort the market, as newbuildings arrive to alleviate the tonnage crunch.

This makes interesting reading for Davies Turner and anyone using container shipping to manage their international supply chains.

Quoting Alphaliner’s latest weekly report, the Seatrade Maritime article says in regards to the shipping market that the idled fleet is now at its lowest level for more than 22 months at just 84 ships of which one is larger than 12,500 teu and none are greater than 18,000 teu.

It adds that the number of vessels that are in repair yards has also dropped significantly over the last two weeks, falling to 99 ships on 12 February, totalling 236,266 teu, an average size of under 2,400 teu. A reduction of six ships, consisting of 73,769 teu, averaging around 12,300 teu per vessel.

The full story can be read here: http://tinyurl.com/2wndt6d6

Davies Turner is committed to helping clients manage the difficult situation facing container shipping at present and mitigate where possible additional costs incurred. Our ocean freight team will endeavour to keep in close contact with all clients to provide up-dates on specific movements.

For more information about Davies Turner’s ocean freight forwarding and logistics services, please contact ocean@daviesturner.co.uk or visit the relevant pages of this website.

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