20% of the global fleet bypass, shipowners implement shipping space rationing! Maximum impact over the next six weeks
Nearly 20% of the world’s container fleet, equivalent to 364 vessels with a total carrying capacity of more than 2.5 million TEUs (TEUs), had to be diverted via the Cape of Good Hope as the Houthis continued to threaten navigation in the Red Sea.
Experts point out that because global shipping scheduling does not switch as quickly as a light switch, freight rates of Asia/Europe/Middle East trade will remain high in the short term. The biggest impact of this scenario is expected to emerge gradually over the next six weeks
Shipping companies predicted that the bypass could cause a Global Impact that insufficient equipment and space for container ships, difficulties in scheduling empty containers, and short-term tariff increases.
The fact is that some major carrier/seaports (such as Ningbo/Shanghai) are already experiencing the container shortage problem.
The said situation will also affect other routes due to insufficient containers returning from Europe, and then further spread to other ports in China and other Far-East countries.
