Tag: Xeneta

According to Reuters, Maersk is facing considerable terminal congestion at ports in Asia and the Mediterranean, leading to significant delays in its vessel schedules. As explained, due to congestion, the world’s second-largest container shipping company will cancel two westbound sailings from China and South Korea scheduled for early July. Maersk’s announcement comes amidst global supply chain disruptions and increased costs caused by strikes on commercial vessels near the Suez Canal by Iranian-backed Houthi rebels. Due to significant terminal congestions in Mediterranean and Asia ports, we are experiencing substantial delays in our vessel schedules. This congestion has resulted in extended waiting times at various ports, impacting our ability to maintain regular schedules. ..Maersk said. As a result, the following blank voyages will be introduced in the upcoming weeks. The company said that they understand that this situation may cause inconvenience and disruption to your supply chain plans, and they sincerely apologize for any inconvenience caused. Data from the company also shows congestion at ports in China, Dubai, Spain, and the U.S. High winds and unexpected weather conditions have disrupted cargo shipments at Chinese ports, Reuters highlights.

According to an analysis by Xeneta, water levels rise in the Panama Canal, so do hopes that ocean freight container services can return to business-as-usual following more than a year of restrictions due to drought.

According to Xeneta, conflict in the Red Sea has brought massive carbon emissions increases in ocean freight container shipping, according to data released.

Two weeks after Xeneta reported that ocean freight shipping spot rates from the Far East into Europe may have peaked during the Red Sea crisis, it is now observed that trades into the US have followed a similar pattern.

The Red Sea crisis has seen ocean freight rates increase faster than the early months of the Covid-19 pandemic as swathes of shippers are told some of their contracts will not be honored, Xeneta highlights. 

Early indications suggest ocean freight shipping rates are set to increase further in early February amid the ongoing Red Sea crisis, according to data released by Xeneta on 23rd January.

Any hopes of a revival in long-term ocean freight shipping rates were short-lived after the latest data from Oslo’s Xeneta indicated the market is once again in decline.

Xeneta crowdsources real-time rates data from leading global shippers, allowing it to assess the very latest market moves, with the cost of shipping containers out of Europe has plummeted from the peak prices of 2021 and 2022.

The latest ocean freight rates data from Xeneta suggests an increasing “normalization” of the reefer market, with spot rates from the Far East to Northern Europe now back to pre-pandemic levels.

Mr. Peter Sand, Chief Analyst, Xeneta, says that this year brings several challenges to the carriers but opportunities to the shippers and explains how the ongoing global supply chain crisis will evolve in the coming years, according to Xeneta data.