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Container throughput at Piraeus’ Terminals II and III rose 15.3% year-on-year in September, with COSCO Shipping Ports pointing to the expected arrival of the first Suez-routed vessel at the port by late October.
Egypt and South Korea upgraded relations to a strategic partnership and signed shipbuilding and maritime cooperation memoranda, with Cairo pitching a Korean industrial zone inside the Suez Canal Economic Zone.
The Dubai Tower, the maiden vessel on Sea Legend’s new China-Europe Arctic container service, is sailing back to Asia through the Suez Canal instead of retracing the Arctic route it used outbound.
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.
The 24,188-TEU container ship OOCL Portugal transited the Suez Canal southbound on a voyage from Belgium to China, marking COSCO Shipping Lines’ first such passage since the Red Sea security crisis began.
Maersk and Hapag-Lloyd will shift four additional Gemini Cooperation container services from the Cape of Good Hope back through the Suez Canal and Red Sea, doubling the number of strings using the corridor to six.
Marine insurer The Swedish Club has warned shipowners that Cape Horn and the Strait of Magellan remain a risky third-choice option, not a routine substitute, as tightening Panama Canal restrictions push some to consider longer southern routes.
Drewry’s World Container Index shows spot rates poised for a modest decline as ocean carriers accelerate the return of container capacity to the Suez Canal.
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.
With freight rates rising and Cape of Good Hope diversions straining capacity, some ocean carriers are reportedly betting they can safely return to Red Sea routes.
