UPDATE: December 19, 2023
As the Red Sea conflict unfolds, shipping companies are taking evasive actions, with Cosco-owned OOCL halting cargo acceptance to and from Israel and over one hundred vessels delaying or rerouting voyages to avoid Red Sea transit. Flexport CEO Ryan Petersen reports around seventy-eight vessels are delayed and awaiting orders. At the same time, forty-six containerships have been rerouted around the Cape of Good Hope, adding up to four weeks to each journey. The White House responded to Maersk’s decision to pause Red Sea transits, emphasizing the need for shipping lines to assess risks globally. The US has dispatched the ‘Ike’ carrier group to the Red Sea to protect US-flagged vessels, heightening concerns over the impact on global trade routes.
The Panama Canal, a crucial conduit in global shipping, is currently experiencing significant delays. For carriers like COSCO, EMC, OOCL, Zim line, One line, YML, and HAPAG, we’re observing delays ranging from ten to fourteen days. The underlying drought issue has prompted some carriers to consider alternative routes, notably the Suez Canal. However, this change affects port calls, with vessels now bypassing Boston in favor of other East Coast ports like New York, Norfolk, and Savannah.
Everglory’s Approach to Navigating Current Delays:
The current situation at the Panama Canal is a reminder of the ever-evolving nature of global logistics. Everglory Logistics remains committed to providing our clients with up-to-date information, strategic planning, and flexible options to navigate these challenges successfully. Our expertise and client-centric approach ensure that, despite global disruptions, your logistics needs are met with efficiency and reliability. If you’re ready to build resilience into your supply chain, contact Everglory Logistics today.