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The Port of Shanghai handled a record 5.135 million TEU in September, recovering from backlogs caused by three successive typhoons earlier in the summer.
The Port of Tyne has moved into a new phase of its plastic pellet recovery operation nearly three months after a wind farm support vessel collided with a berthed containership and triggered a major nurdle spill into the River Tyne.
Major container alliances including Premier Alliance and Cosco are sending vessels back through the Suez Canal on Asia-Europe services this month, ending more than two years of diversions around the Cape of Good Hope.
Global container port congestion is approaching 4 million TEUs as strong demand, weather disruption and tight vessel capacity continue to squeeze major trade lanes, according to DHL Global Forwarding.
Stranded container capacity in port queues worldwide has climbed to 4.31 million TEU, exceeding the 4 million TEU high recorded during the 2022 pandemic-era supply chain crisis.
Shanghai-to-New York spot rates rose 10% to $8,706 per 40ft box this week, even as Asia-Europe rates ease and Drewry’s overall index slips 1%.
Typhoon Dolphin and chronic yard congestion at Shanghai, Colombo and Nhava Sheva are pushing carriers to omit port calls and lean on Red Sea routings.
Suez Canal transits have climbed to their highest level in more than two years as CMA CGM and Maersk accelerate their return to the route.
Congestion in China, Asia, and Europe has stranded more container capacity than ever recorded, squeezing vessel availability and pushing freight rates up.
