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Queues in Suez may have repercussions on container market for up to three months

Once the queues of more than 360 ships in the Suez Canal are dissolved, the container market will be hit by repercussions for 2-3 months, estimates a shipping analyst, who predicts a tug of war between carriers and shippers on rate surcharges due to increased costs.

Photo: AHMED HASAN/AFP / AFP

Additions to the already high freight rates, congestion in Mediterranean ports and exporters who have to wait for their cargoes to be shipped, as well as long delays in moving thousands of empty containers to Asia.

Although the blocked Suez Canal will soon be passable again, there will be strong repercussions in the container market over the next 2-3 months, predicts shipping analyst Lars Jensen, CEO of Seaintelligence Consulting.

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