According to Sea-Intelligence, the Red Sea crisis has caused maritime shipping carriers to become exceedingly volatile and prone to rapid change.
According to Sea-Intelligence, the round-of-Africa path will significantly increase transit times for shippers. It will take little more than a week from Asia to North Europe, and up to two weeks to reach the Mediterranean.
Sea-Intelligence noted that the current capacity outlook is filled with ambiguity; nonetheless, the current data indicates that shippers may face a capacity crisis for Asian exports in the next weeks.
The figure shows the visible impact on Asia-North Europe as a result of a combination of some services being held back in departure from Asia in the short term while awaiting re-routing and some services arriving late into Asia.
As a result, this causes a rapid shortfall in the middle weeks of January, with a steep capacity drop now expected for the week of 22 January.
Alan Murphy, CEO of Sea-Intelligence, said: “The apparent capacity rise in late December/early January is more of an artefact of origin delays and deserves less attention. A similar tendency is observed on both the Asia-Mediterranean and Asia-North America East Coast, although a week sooner.
“That said, the temptation is to call this a disaster, but such language would be inappropriate, when the current crisis is placed in the context of what the supply chains had to endure during the pandemic disruptions.”