Red Sea Chaos: Freight Rates Soar As Port Congestions Worsen!

Container Rates Spike, AGAIN!

What's Going on With Shipping?
May 30, 2024

#supplychain #containerships #houthi #container #shipping

Support What's Going on With Shipping via:
Twitter: @mercoglianos
Facebook: @wgowshipping

Marine Traffic

Megamax fleet now forms half of global boxship fleet

Alphaliner TOP 100 / 30 May 2024

Houthis Claim Attacks on Six Ships in Red, Arabian, and Mediterranean Seas

Red Sea rerouting causing Asian port congestion

War of attrition could prolong Cape diversions

Sea-Intelligence reports average minimum transit time up 39% on Asia-Med routes

Singapore congestion reaches 2 million TEUs

Indian shippers and retailers suffer in a wave of supply chain disruption

Higher consumption in China, US contributed to rate spike

Getting containers in the right place at the right time is now 'impossible'

Shipper fury as spot rates soar - and box lines ignore contracts

Drewry's World Container Index - 30 May

Booming May rates mask the looming capacity bomb

Ellerman City Liner relaunches China-UK service for peak season

Disruptions continue to drive tanker demand

Five-year-old Suezmax tankers worth more than a newbuilding

Red Sea Disruptions Are Driving Up Carbon Emissions

[phmoffett]

Sal, former SeaLand'er here. It's good to hear your expert commentary on maritime issues. I know of no other reliable source out there now. Thank you.

[natopeacekeeper]

I loved your Wile E. Coyote comparison! I instantly had a vision of Wile E. dressed in a Houthi Army uniform pulling a missile out of a box marked ACME (cartoonists please take note) No other channel comes close to yours when it comes to all things maritime. Thanks for another great episode and

[indylovelace]

Sal, as I’m fixing dinner, I’m listening to your latest video and realized how much you’ve become part of my daily routine. I’ve been with you as a Patron since the beginning, yet I haven’t considered raising my initial contribution rate until now. I’ll encourage other Patrons to weigh the value you are receiving from Sal’s efforts and put your contributions in alignment with the value you are receiving. Remember, when we go to work, we are always looking for that next raise. It’s no different for Sal. He’s working a full time teaching job and doing this in the evenings and weekends.

[fubarbrandon]

Love the way government says Nothing to See Here...thanks Sal for all the great information.

[HarryWHill-GA]

Thanks Sal. If the Laax had actually sunk, it might have prompted the Iranians to relieve the constipation in the Bab-el-Mandeb that is the Houthis. Who knew ex-Laax works on shipping?

[KentonGrimes]

Sal, Thank you for the report. One area that I'd like you to consider is that the US demand spike is driven not by a real consumption uptick but instead is driven by the new Section 301 Duty increases that will go into effect in 90 days. This bump in demand is a push to stock up on inventory to mitigate the duty hike this and the equipment strain due to the Red Sea issues created a new black swan event (for freight buyers).

[normareed]

Thank you so much for this very informative post. Im going to share this link with some of my clients.

Handling international cargo, via seafreight, here in South Africa, together with our local woes, has become a nightmare.

Just love your channel. ❤😊

[rumrunner]

Now we understand why High Voltage transformers coming from overseas have a 3 year wait! Supply chain is cooked!

[jockbeems]

My company in North Carolina depends on shipping.
Because of the mess in the middle east and the drought troubles in the Panama Canal, our backorders and canceled orders are skyrocketing.

[MrTeff]

I never gave shipping a thought until I discovered your channel. Thanks

[stephanieparker]

Sigh great, now it’ll cost me a fortune to get my Amazon cat litter.

[davidoldboy]

Well done Sal, very succinct, this topic is definitely your expertise.

[phildf]

Thanks Sal, I wish there were more channels just like yours. This is the most informative channel out there.

[anyopp]

As someone who worked directly for ocean carriers and now is a customer of a few, can’t agree more.

[burkevinell]

This is causing me headaches as an export trucker. My customer is using the cheaper carriers which are much harder on trucking. I have a booking now that we can't find out where to pick up equipment and it's all because they went with a cheaper container liner.

[robertkeable]

Putting all ones eggs in a basket springs to mind..
Thanks for your hard work.

[jamesallen]

What’s happening to the Egyptian economy losing so much Suez income?

[SilntB]

Thank you for your time and work to keep us informed.

[gaetanomontante]

I am educated, but know nothing about shipping. It is refreshing to listen to you explain shipping events that are consequential to smooth operations in trade and economic growth.
Than you for your efforts Sal.

[jfredq]

After years of gutting American manufacturing and sending the once American factories across the globe, the Houthis end up sending the financial world a lesson.