Zencargo Market Update: 29th January 2024
Jan 29, 2024
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Jan 29, 2024
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Rates appear to be plateauing, but the Red Sea conflict shows no signs of de-escalation as the Houthis continue to target commercial vessels, preventing carriers from resuming routes via the Suez Canal.
Initially seen as a short-term crisis, the situation now resembles challenges faced during the pandemic, including disruptions in flows, significant delays in Estimated Time of Arrival (ETA), port congestions, and equipment shortages.
According to Alan Murphy, Sea Intelligence CEO, the vessel capacity drop is the second largest in recent years, with the only event having a more significant impact being the Ever Given incident in 2021 which blocked the Suez Canal.
Global retailers have issued warnings about product delays in the coming months, leading companies like Tesla, Volvo, and Michelin to halt production on specific products.
We recommend that you work with your freight forwarder closely to minimise disruption in your supply chain.
Air
Central China to USA and Europe
North China to USA and Europe:
South China to USA and Europe:
Ocean
Ocean
Rail
European Bank Holidays
We anticipate a shortage of availability and the occurrence of delays around the bank holiday periods. Plan ahead and allow extra time for your products to be delivered.
Feb 5 – Ireland (Eire)
Feb 8 – Slovenia
Feb 10 – Malta
Feb 12 – Luxembourg*
Feb 13 – Portugal*, Spain*
Feb 16 – Lithuania
Feb 24 – Estonia
Feb 28 – Spain*
March 1 – Spain*
March 3 – Bulgaria
March 4 – Bulgaria
March 8 – Germany*
March 11 – Lithuania
*Not in all regions
The information that is available in the Weekly Market Update comes from a variety of online sources, partners and our own teams. Click below to learn more about how Zencargo can help make your supply chain your competitive advantage.
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