From Container News, July 5:
Global container port congestion is now around 9 million TEU, close to the peak of 9.6 million TEU seen during the Covid-19 pandemic, according to a Clarksons report.
The world’s largest shipbroker said in a report that the Red Sea crisis, which has seen container vessels detouring round the Cape of Good Hope, has added circa 12% to TEU-mile demand.
Clarksons analyst Trevor Crowe wrote: “It has been a better than expected year so far for trade volumes - this has helped drive markets to exceptional levels once again.”
He noted that the rise in congestion has emerged from the impacts on port infrastructure and logistics of vessel re-routing, amplified by strong year-to-date global trade volumes, which have grown 8% year-on-year from January to April.
There has also been a psychological factor, as shippers anticipating tightening shipping and equipment availability during the 3Q peak season, have rushed to move their exports in May and June, causing the peak season to arrive early.
Knock-on impacts evolving from liner company service re-scheduling include equipment displacement bottlenecks....
....MUCH MORE
And yesterday: ""Shein, Temu Are Swamping Airfreight Capacity, Sending Rates Soaring""