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- The Suez Canal situation has had numerous effects on the shipping industry especially in the Asia to US trade route. As this ongoing political tension is felt the consequences in the industry are becoming clearer each day.
- Currently due to the additional time of transit the original planned vessel schedule is delayed by one week globally. This is affecting imports and exports worldwide. This lengthening of the supply chain has already had devastating effects and will continue. As a result of the changes week 5 will be the last expected on time arrival.
- Additionally, carriers are trying to implement a general rate increase (GRI). The proposed rate increase ranges from $600 to $1,000 per FEU and may go into effect as early as February 1st. It is important to keep in mind that this will likely decrease at the start of the Lunar New Year beginning February 10th. This is in addition to the increased spot rates that in some cases have more than doubled.
As week 6 arrivals will be canceled the upcoming weekly sailing schedule is in disarray worldwide!
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