The volume of container shipping capacity effectively taken out of circulation by port congestion has reached a new record high. Mounting delays across major Chinese and Asian ports, combined with persistent bottlenecks in Europe, have created a shortage of available vessels and slots — and carriers are passing the cost on.
Ocean freight rates are climbing as a result, with some carriers reportedly betting they can safely resume Red Sea transits to relieve pressure on capacity tied up in the longer Cape of Good Hope route. For shippers, the practical effect is longer transit times and higher costs heading into peak season.
Source: The Maritime Executive — https://maritime-executive.com/shipping-news
