ShippingWatch

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.

Read the whole article

Get 14 days free access.
No credit card required.

An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

IKEA sustainability manager: Green solutions should not cost more

As a starting point, furniture giant Ikea won't accept that green solutions become more expensive than polluting solutions, says Elisabeth Munck af Rosenschöld, Global Sustainability Manager for Supply Chain Operations, to ShippingWatch. Ikea is part of an alliance of global companies that calls for green shipping by 2040.

Long Beach logjam of container vessels grows to 80

Bottlenecks at major US container ports in continue to grow, with the ports of Long Beach and Los Angeles being the worst hit at the moment. Here, 80 vessels are waiting to berth, according to new figures form Vessels Value.

Further reading

Related articles

Trial banner

Latest news

See all jobs