The Strait of Hormuz is facing major disruptions, and the impact is being felt worldwide. 🌎
Based on data from Vizion, approximately 2 million TEU are impacted by the war around the Persian Gulf. This includes all cargo booked with destination in any port in the Gulf on any carrier. This is both cargo which is loaded as well as cargo which is booked in the next 90 days but not yet loaded.
An oil tanker was attacked while sitting at anchor off Kuwait. Seemingly by a small craft which was seen leaving the area. A large explosion caused a hole in a ballast water tank.
Maersk adjusted their Emergency Contingency Surcharges in relation to Middle Eastern cargo – both inside the Gulf as well as Omani ports outside the Gulf and ports in the Red Sea. Rates from 6th March now in the range of 3000-4500 USD/40’ depending on trade. For FMC regulated trades a 30-day notice period applies.
Hapag-Lloyd has a GRI from India, Pakistan and Middle East to North America of 1000 USD/container.
For containers booked, but not yet loaded, Hapag-Lloyd advises that export shipments where the empty container has not yet been picked up will be cancelled. Export shipments, which are already gated in at the terminal for loading should be picked up again by customers since loading of such shipments has been suspended.
Global average VLSFO bunker fuel prices have increased 95 USD/ton to 671 USD/ton since Friday according to Ship&Bunker.
Global Feeders Shipping owned by Abu Dhabi Ports Group which first transited “SSL Leo” and then saw “Safeen Prestige” attacked and crew abandoning ship, appears to have attempted, but aborted, yet another transit. Below screenshot from vessel finder shows 2700 TEU “SSF Valence” approach, and turn around.
Today is day 837 of the Red Sea crisis and day 6 of the Hormuz crisis.
Even if you don't ship directly through the Gulf, rerouted vessels and suspended transits mean longer delays, tighter capacity, and rising fuel costs for air, ocean, and land freight. ⚓ ✈️ 🚛
At https://chariusfreight.com/ we don't just react to the market; we anticipate it. We are actively monitoring this disruption, securing alternative capacity, and redesigning routes to protect our clients' supply chains. In volatile times, strategic logistics isn't just an advantage; it's a necessity.
