Volatility and uncertainty are once again on the menu for shippers around the world. With the year of 2023 having marked a return to pre-pandemic schedule reliability, it is now apparent that we will enter 2024 with darker clouds on the horizon.
Red Sea Update: Suez Canal issue accelerates instant capacity crunch
Following our ocean market update published on 18 December informing of the consequences of missile attacks on vessels passing through the Red Sea, we continue to monitor the situation closely and wish to update you on the latest developments.
Red Sea Update: New challenges emerge in the wake of Suez Canal re-routings
Overall, the situation is unchanged in the sense that container carriers continue to re-route vessels utilising the extended route around the Cape of Good Hope. While a military coalition has been formed, it currently remains unclear as to when this will have an effect, allowing vessels to pass through the Red Sea safely.
Red Sea Update: Continued uncertainty prompting divide amongst container carriers
Following the Christmas holidays, the situation in the Red Sea remains fluid and uncertain. It is also clear that carriers are currently divided in their risk assessment, providing an overall blurry picture of the situation.
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