Trade Analysis: Far East Westbound
After the first attacks on commercial shipping in the Red Sea in December, carriers started to take action too, rerouting vessels via the Cape of Good Hope. Currently, around 80% of vessels…
read moreRead our Seafreight Insights to find out about the latest developments in the global sea cargo industry. Get an update on trade and rate developments as well as flexible solutions offered by cargo-partner to deal with the current challenges.
The global container shipping industry is still in turmoil and global trade is at risk due to several crises. The ongoing Houthi threat in the Red Sea/Suez Canal and the issues with low water levels in the Panama Canal were already causing major disruptions to global supply chains.
The collapse of the Francis Scott Key Bridge in Baltimore will cause even more problems as this is one of the busiest ports on the US East Coast. Traffic to and from Baltimore’s major terminals is currently suspended and leading container shipping lines have already responded by diverting the first ships to other ports in the area.
The collapse of the Francis Scott Key Bridge after being struck by a container ship has disrupted container shipping services at the Port of Baltimore. This will severely impact the port's services and will have ripple effects, as debris has fallen into the Patapsco River. The bridge continues to block a large portion of the channel leading into the Port of Baltimore. It is not known how long the challenging clean-up work will take.
The port is the deepest in Maryland’s Chesapeake Bay, with five public and 12 private terminals handling over 80 billion dollars’ worth of cargo in 2023. It serves more than 50 ocean carriers and makes nearly 1,800 annual port calls.
Last updated on April 3
The shipping industry will remain volatile and uncertainties will continue to plague the market.
cargo-partner Solutions:
Legend: traffic lights showing current status, arrow indicates possible development of transport rates.
After the first attacks on commercial shipping in the Red Sea in December, carriers started to take action too, rerouting vessels via the Cape of Good Hope. Currently, around 80% of vessels…
read moreThe carriers’ decision to divert traffic away from the Red Sea to avoid Houthi attacks is likely to impact shippers on the Europe to Middle East/ISC/Far East and Oceania lanes...
read moreAll carriers have implemented a “Panama Canal Surcharge” for transports to the US West Coast to cover the additional costs caused by the low water levels...
read moreWe now face a combination of increased demand for space ahead of the upcoming Lunar New Year, reduced capacity through the Panama Canal, as well as US East Coast services originally routed…
read moreGeopolitical tensions and attacks in the Red Sea have increased since the start of the Israel-Hamas conflict. In the wake of this conflict, merchant shipping was affected by missile…
read moreThe Panama Canal, which connects two oceans, simply does not have enough water. Delve deeper into maritime traffic jams and how the Suez Canal temporary substituted the Panama Canal.
read moreReefer ocean freight is currently still volatile, but with rates on a comparatively low level. Read more about our experts' current reefer market assessment...
read moreThe EU has adopted a legislative action plan to achieve carbon neutrality by 2050. This plan includes reducing greenhouse gas emissions by 55% by 2030 and also impacts the shipping industry.
read moreAre you looking for the most cost-effective and reliable way to ship dangerous goods such as batteries for electric vehicles, e-bicycles, power tools and medical devices?
read moreWe had the opportunity to talk to CEO of the fifth largest container carrier worldwide about the recent developments in seafreight and acquisition plans.
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