Red Sea Chaos: Freight Rates Soar As Port Congestions Worsen!

Container Rates Spike, AGAIN!

What's Going on With Shipping?
May 30, 2024

In this episode, Sal Mercogliano - a maritime historian at Campbell University (@campbelledu) and former merchant mariner - discusses the impact of Red Sea diversions on global shipping and the spike in freight rates.

#supplychain #containerships #houthi #container #shipping

Support What's Going on With Shipping via:
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Twitter: @mercoglianos
Facebook: @wgowshipping
Email: mercoglianosal@gmail.com

Marine Traffic
marinetraffic.com

Megamax fleet now forms half of global boxship fleet
https://container-news.com/megamax-fleet-now-forms-half-of-global-boxship-fleet/

Alphaliner TOP 100 / 30 May 2024
https://alphaliner.axsmarine.com/PublicTop100/

Houthis Claim Attacks on Six Ships in Red, Arabian, and Mediterranean Seas
https://gcaptain.com/houthis-claim-attacks-on-six-ships-in-red-arabian-and-mediterranean-seas/

Red Sea rerouting causing Asian port congestion
https://www.seatrade-maritime.com/containers/red-sea-rerouting-causing-asian-port-congestion

War of attrition could prolong Cape diversions
https://container-news.com/war-of-attrition-could-prolong-cape-diversions/

Sea-Intelligence reports average minimum transit time up 39% on Asia-Med routes
https://container-news.com/sea-intelligence-reports-average-minimum-transit-time-up-39-on-asia-med-routes/

Singapore congestion reaches 2 million TEUs
https://container-news.com/singapore-congestion-reaches-2-million-teus/

Indian shippers and retailers suffer in a wave of supply chain disruption
https://theloadstar.com/indian-manufacturers-suffer-in-a-wave-of-supply-chain-disruption/

Higher consumption in China, US contributed to rate spike
https://container-news.com/higher-consumption-in-china-us-contributed-to-rate-spike/

Getting containers in the right place at the right time is now 'impossible'
https://theloadstar.com/getting-containers-in-the-right-place-at-the-right-time-is-now-impossible/

Shipper fury as spot rates soar - and box lines ignore contracts
https://theloadstar.com/shipper-fury-as-spot-rates-soar-and-box-lines-ignore-contracts/

Drewry's World Container Index - 30 May
https://www.drewry.co.uk/supply-chain-advisors/supply-chain-expertise/world-container-index-assessed-by-drewry

Booming May rates mask the looming capacity bomb
https://container-news.com/booming-may-rates-mask-the-looming-capacity-bomb/

Ellerman City Liner relaunches China-UK service for peak season
https://theloadstar.com/ellerman-city-liner-relaunches-china-uk-service-for-peak-season/

Disruptions continue to drive tanker demand
https://www.lloydslist.com/LL1149301/Disruptions-continue-to-drive-tanker-demand

Five-year-old Suezmax tankers worth more than a newbuilding
https://www.seatrade-maritime.com/tankers/five-year-old-suezmax-tankers-worth-more-newbuilding

Red Sea Disruptions Are Driving Up Carbon Emissions
https://www.marinelink.com/news/red-sea-dissruptions-driving-carbon-514042