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Containershipping

All articles tagged with #containershipping

business-maritime-industry2 years ago

"Red Sea Dilemma: Shipping Industry Faces Risks and Rising Costs Amid Persistent Attacks"

The Shanghai Containerized Freight Index (SCFI) has seen a significant increase due to the diversion of a large portion of the liner fleet around the conflict-affected Red Sea, avoiding areas near Yemen where the Houthis have targeted merchant shipping. This diversion has led to a tighter market balance, with spot rates climbing and analysts expecting high rates to persist for several weeks. Major financial institutions like Jefferies have upgraded their outlook for liner companies, anticipating sustained positive margins into 2024. The situation has been exacerbated by recent Houthi attacks using unmanned explosive-laden vessels, prompting international warnings of consequences if such attacks continue.

via Splash 247|
##business-maritime-industry#containershipping
business-and-economy2 years ago

"Red Sea Tensions Escalate Shipping Costs and Threaten Global Economy"

Container shipping spot rates between Asia, Europe, and the US have surged due to reduced capacity from threats in the Red Sea, with prices for a 40-foot container from Asia to northern Europe jumping 173% to over $4,000. The increase is a result of diversions from the Suez Canal to avoid missile strikes by Yemen's Houthi militants, leading to a 28% decrease in Suez transits and higher shipping costs. This situation is affecting not only container shipping but also oil tanker markets, with earnings for ships hauling refined fuels significantly rising. The ongoing conflict and threats in the Middle East have the potential to keep spot rates high and impact long-term contract negotiations for cargo owners.

via gCaptain|
##business-and-economy#containershipping
business-and-finance2 years ago

"Red Sea Route Diversions Trigger 173% Surge in Spot Container Shipping Rates"

Shipping rates for container shipping from Asia to northern Europe have surged by 173% due to reduced capacity, attributed to threats in the Red Sea. This has led to a 28% decrease in Suez Canal traffic over the past ten days. The increased rates come at a critical time ahead of the Chinese Lunar New Year, raising concerns about potential congestion and further impacts on global trade.

via Bloomberg|
##business-and-finance#containershipping