The turbulent waters of the Red Sea have had a huge impact on global shipping. The Suez Canal, the world's leading shipping route, is now blocked, and the turmoil in the Red Sea has made waves in the global shipping routes.
Data shows that the annual volume of cargo passing through the Suez Canal accounts for about the world's sea transportation**10% of the total amount. So far in 2023, more than 24,000 ships have passed through the canal, of which 51 are northbound (Asia to Europe).0%。
By ship type, number of passes丨Unit: ships
Source: Wind Clarksons Bloomberg Huatai Research Institute The spread of uncertainty over the invasion of the Red Sea has led to a sharp drop in the number of container ships entering the region on December 17 to seven, and the total tonnage of container ships arriving in the Red Sea watersIt plummeted by 82%.
Source: Clarkson Data Invasion and deletion
On the Asia-Europe route through the Red Sea and the Suez Canal, the capacity concentration of container shipping is high. Of these, the top 11 shipping companies control about 95% of the capacity. The adjustment of ship routes by these companies due to the situation will directly affect the capacity of the global shipping ** chain.
*: Linerlytica, CITIC Research Institute The ongoing turmoil in the Red Sea has led many shipping companies to choose to detour to the Cape of Good Hope, and the adjustment of ship routes has caused confusion in route capacity and shipping schedulesFreight rates have soared.
Source: CCTV News Invasion and deletion means that the distance and transportation costs of some merchant ships around the world will increase significantly. According to estimates, the overall voyage has increased by 40% and the transportation cost has increased by more than 40%.
This has driven the domestic container transportation index and market freight rates to continue to rise. The main contract of the container transportation index (European line)** has hit the daily limit for 5 consecutive trading days, with a cumulative increase of more than 50% in a week.
According to the latest weekly report of the Shanghai Shipping Exchange, the composite index of freight rates in the transportation market of Asia and Europe is **148% to 125499 points;The Red Sea Route Index released by the Ningbo Shipping Exchange was also higher than last week's **1619% to 36495 points.
According to the report, the freight rate of Shanghai port exported to Europe and the Mediterranean basic port market has reached 1497 US dollars TEU (20-foot container) and 2054 US dollars FEU (40-foot container), and the freight rate of the Persian Gulf route has also reached 1477 US dollars TEU.
In addition, there is **data showing the current freight rate from Shanghai to the United Kingdom**It has jumped to $10,000 in the FEU. And last week, it was only $2,400.
IKEA, a major home furnishings retailer, is experiencing a strained chain due to extended voyages. An IKEA spokesperson said publicly
"What can be told is that the situation in the Suez Canal will lead to delays in deliveries, which may cause ** restrictions on some IKEA products. ”Previously, on this channel, which carries 12% of international ** and nearly 1 3 global container traffic, there will be 8.8 million barrels of oil per day, nearly 3800 million tonnes of goods transited.This is our top priority. ”
Recently, Maersk and CMA CGM announced the number of affected vessels. On the Asian, Middle East, and Transpacific US East routes, Maersk diverted 155 vessels, while CMA CGM diverted 22 vessels affected by this incident.
Maersk
CMA CGM as of December 22, according to the data released by DexunThe total capacity affected by this incident is expected to reach 4.2 million TEUsMDS Transmodal estimates the value of cargo affected by the diversion of ships at about $105 billion.
This series of events has led to capacity shortfalls and cargo delays, and certain products** may be restricted. In response to this, shippers are looking for other **chain options.
The China-Europe freight train has emerged as a high-profile alternative. After 10 years of development, the China-Europe Express has reached more than 200 cities in 25 European countries. From January to November this year, a total of 16,145 China-Europe freight trains were operated, a year-on-year increase of 7%, and the cargo volume has exceeded the total volume in 2022.
The reason why shippers love the China-Europe Express is that the key lies in its transportation efficiency. Compared to the more than 20 days it takes to get to Europe by sea, it takes more time to detour to the Cape of Good Hope. The China-Europe train can generally arrive in about 16 days, and the cargo transportation time can be shortened by 20 days compared with sea transportation.