From CNBC, January 18:
- The Red Sea crisis and continued Houthi rebel attacks on cargo ships and tankers is now a bigger impact event for shipping than the early pandemic, according to the latest data from maritime advisory firm Sea-Intelligence which measures changes in vessel capacity.
- The only event in recent years to have a bigger impact on the supply chain was when the cargo ship “Ever Given” got stuck in the Suez Canal in 2021.
- The longer transit around the Cape of Good Hope is having a significant impact on vessels available to pick up containers, but unlike during Covid, there is excess vessel capacity currently unused which could be put back into service and help solve the issues.
A leading ocean supply chain advisory firm is warning that the disruptions to shipping from the Houthi rebel attacks in the Red Sea are already more damaging to the supply chain impact than the early Covid-19 pandemic.
Sea-Intelligence analyzed current vessel delays compared to delays over the last several years in a report for clients. The data shows that the longer transit around the Cape of Good Hope as ships divert from the Red Sea is already having a more significant impact on vessels available to pick up containers at ports than during the pandemic. This supply chain measure is known in the industry as “vessel capacity.”
The vessel capacity drop is the second largest in recent years, according to Alan Murphy, CEO of Sea-Intelligence. The only single event with a bigger impact than the Red Sea crisis was the “Ever Given,” the giant cargo ship which got stuck in the Suez Canal for six days during March 2021. Billions in trade were at a standstill during that event. With that exception, “This [the Red Sea crisis] is the largest single event – even larger than the early pandemic impact,” Murphy said....
....MUCH MORE
Also at CNBC, January 17: "Red Sea crisis could last a year with Houthi attacks ‘just increasing’: Experts"
