Demand for ocean freight out of Asia unexpectedly picked up early in the month reflecting the possible start of restocking in Europe and an early peak season on the transpacific due to concerns overRed Seaor labor-driven delays later in the year. As a result congestion began to worsen and t...
Rising Ocean Freight Rates Shift to Alternative Shipping Methods Access real-time freight rate data with Freightos TerminalBook Demo The Red Sea Crisis: The Data Points With Lunar New Year just around the corner, the global shipping industry is still contending with the challenge of Houthi atta...
Ocean carrier ONE has joined the list of now six of the ten largest container carriers, together representing 62% of global capacity, that will be avoiding the Red Sea passage into and out of the Suez Canal, according to a Freightos Freight Market Update published December 20. Ninet...
the Red Sea in response to Houthi attacks and the prospect of further assaults, other companies, including the Danish freight company Maersk, implemented fees to transport goods. In late December,Maersk applied a transit distribution surcharge (TDS), which had an instantaneous impact on dozens o...
In yesterday’s Flexport freight market update,senior manager of ocean freight for Benelux Guillaume Caill warned that, with added naval pressure, the geopolitical tension in the Red Sea was escalatingand thus could last for months. And, according to Sea-Intelligence, while supply chain stakeholders...
Freight forwarders have turned to rail services between China and Europe, backed by the Belt and Road Initiative, as a transportation alternative in light of disruption to international shipping caused by the Red Sea attacks, emphasizing the rail route's
The situation in the Red Sea remains volatile and so far, there has not been major improvements around navigation safety. We see ocean carriers continue to redirect ships to the longer Cape of Good Hope route and the military intervention in Yemen has increased the frequency of attacks...
Prices Skyrock According to reports from professionals, due to the Red Sea shipping crisis, global shipping giants such as Maersk, Hapag-Lloyd, and Mediterranean Shipping Company have avoided the Red Sea shipping route, resulting in extended voyage times and decreased shipping capacity, leading to ...
On the 26th of December, a Mediterranean Shipping Company container vessel was subjected to an attack while transiting the Red Sea in the afternoon. This incident marks a further escalation of the ongoing Red Sea crisis. As a result, major global shipping companies have been forced to rerout...
Experts caution that if the Red Sea issue continues, ocean freight shipping may be more severely disrupted, driving up expenses. The chief analyst at Xeneta, a freight platform, Peter Sand, stressed, “We are looking at months rather than weeks or days before this crisis reaches any kind of...