Developments and consequences of the Suez Canal blockade
8 April 2021
After blocking the Suez Canal for almost a week, the MV Ever Given finally got unstuck on Monday afternoon. Shipping traffic is now slowly resuming. Unfortunately, this has not solved all the problems yet.
Sailing via Africa
Many shipping companies, including Maersk, CMA CGM and OOCL, have now opted to have their ships re-routed. They take the route via the Cape of Good Hope. This long detour will take at least an extra 10 days. The shipping companies made this choice because of the uncertain situation surrounding developments in the Suez Canal.
Nuisance for a long time to come
A huge traffic jam of more than 350 container ships is currently anchored off the Suez Canal. Now that the waterway is free again, this backlog must first be cleared. This is estimated to take about 3 to 6 days.
The blockage of the Suez Canal causes many delays and additional inconvenience. Because container ships spend longer at sea, the container shortage in the Far East will increase again in the near future. This will also further increase congestion for unloading in the European ports. We expect to experience the continued effects of the stalled MV for at least another few weeks to months. Ever Given in the Suez Canal.
Ocean freight rates China
For months now, importing from China has been historically expensive. Fortunately, ocean freight rates have begun to decline cautiously in recent weeks. Unfortunately, the problems in the Suez Canal have changed the situation again. A further decline in sea freight rates seems currently unlikely. These are expected to remain at the current level for the time being.
Track your shipment
Did you know you can track your shipment with Ritra Cargo? This can be done by logging into our ‘TRACOS Lite’ portal. This portal provides all the important details of your shipment(s). Think ETD, ETA and possible delays. Request your login details immediately.
Of course, we also continuously monitor your shipment(s). Are there any important status updates? We will let you know as soon as possible.
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