Suez Canal Reopening Triggers Rush On Ports Around The World
The Race Is On. Suez Canal Reopening Triggers Rush on Ports Around The World
Q4 2020 hedge fund letters, conferences and more
Suez Canal Reopening: The Next Phase Of The Crisis
The prospect of resumed passage through the Suez Canal has the maritime cargo industry bracing for the next phase of the crisis – a race to ports around the world. Data from supply chain visibility company project44 indicates that consumer goods will be delayed as the canal incident creates worsening congestion at ports.
project44 has published cargo data and route information that highlights where the post-Suez competition for docking capacity will be the most intense. Ports including Jeddah, Rotterdam, and Singapore are likely to be overwhelmed.
Vessel data released by project44 details the retail value of the cargo stuck in transit, currently at over $83 billion.
With reroutes further complicating scheduling, boats currently making their way around Africa will soon join the competition for limited discharging capacity at ports where supply chain breakdowns will take place in the weeks ahead.
Apparel, sports equipment, automotive, and consumer electronics are all on track for disruption.
“Just because your cargo is moving again doesn’t mean you can breathe easy,” said [insert name]. “understanding and monitoring port congestion over the next few weeks will inform us about how large the shockwaves from this incident are going to be. As this saga unfolds, it will take on increasingly global proportions.”
Please find attached the latest reports from project44 detailing impending port congestion, and other data cited in this press release.
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