Ongoing attacks on vessels in the Red Sea by Yemen’s Houthis continue to disrupt shipping lanes in the chemical industry’s supply chain.
While logistics problems from the Red Sea have become white noise, it is important not to forget that lives have been lost.
The air cargo market is enjoying an unexpected boom during the slow season, but it’s unclear whether demand is pulling from the third and fourth quarters to avoid supply chain delays or will continue to build.
The Red Sea conflict continues to endanger shippers that do not divert around the Cape of Good Hope. But with the changing seasons, sea conditions also threaten cargo and safety. Allianz Commercial says risks are coming faster than ever in maritime.
The air cargo market is maintaining momentum despite entering the slow season, thanks to strong demand for e-commerce and e-cigarettes out of China and a mode shift tied to the Suez Canal cutoff.
Blank sailings are a major factor in maritime shipping and are increasing after ocean carriers gorged on higher Red Sea rates while they could thanks to added capacity. With capacity now cut, rates are rising again.
The air cargo sector grew more than 10% during the first quarter on the back of e-commerce exports from China and supply chain disruptions in the Red Sea.
Ship recycling has fallen to its lowest level in 20 years, per a recent report by the Baltic and International Maritime Council.
If China and Russia find the Houthi problem in the Red Sea as intractable as the U.S. and its allies have, it would all but halt what little maritime traffic remains in the region.
The air cargo logistics sector is enjoying good volume growth so far this year, but it remains to be seen if the new momentum can be sustained.
Rates are still high and ships are still rerouting, but global supply chains appear to be adjusting to restricted Red Sea trade.
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A recent string of Houthi attacks have reignited concerns about the Red Sea crisis, raising the floor for tanker rates.
The crisis in the Red Sea will require companies to start planning for peak season in the next few months.
A rise in Chinese imports indicates seasonal trends are playing out as usual, very much unlike 2023’s anemic performance.
The air cargo market has certainly turned around from the depths of last summer, but the extraordinary increase in January volumes should be taken with a grain of salt. Conditions are improving, but short-term factors inflated the January numbers.
Tankers and bulk vessels continue to avoid conflict in the Red Sea, at increasing rates, according to new data from Lloyd’s List Intelligence.
If the Fed is deterred from cutting interest rates, freight demand could tumble just as carriers start regaining pricing power.
A recent round of U.S. and British strikes raise fresh questions about the impact of container shipping in the Red Sea.
Houthi attacks and Red Sea diversions will not spur inflation or a new supply chain crisis, claims consultancy Drewry.
