At Centersource Technologies AB we are committed to the highest standards of ethical research and data integrity, guided by the ESOMAR Code of Conduct. Our data is sourced from a limited, anonymous market survey conducted with trusted and established industry participants. The insights derived from this survey reflect aggregated finalized prices as well as observed prices reported within the participants respective markets, with a focus on the highest prices recorded during the first two weeks of each month. These insights are provided for informational purposes only and are intended to indicate market trends rather than serve as comprehensive or fully representative market data.
In adherence to ESOMAR's principles, we ensure that all data collection and analysis are conducted with transparency, respect for confidentiality, and strict compliance with ethical guidelines:
- Data Sourcing and Methodology:
We exclusively use data from government, customs, or government-affiliated websites to maintain reliability and public integrity. In addition, we engage directly with industry experts to gather real-time, firsthand information. Each data point is collected, verified, and aggregated following established ethical standards, ensuring that our research processes meet the rigor recommended by ESOMAR. - Transparency and Accuracy:
All data are published promptly as they become available from the source, ensuring that our insights remain current and reflective of on-ground market dynamics. We actively seek and incorporate regular feedback from industry experts, which allows us to make real-time adjustments and continuously improve the accuracy and reliability of our data. - Ethical Data Usage and Third-Party Material:
Our adherence to the ESOMAR Code of Conduct underscores our commitment to ethical research practices. We maintain strict controls over data sharing and usage; copying or distributing our data is prohibited under our company policy. Furthermore, all necessary agreements are in place for any third-party material used, ensuring full compliance with copyright laws and industry best practices. - Limitation of Liability:
While we strive to provide high-quality, timely market insights, the data is derived from a limited sample and should be interpreted within that context. We are not liable for any damages arising from the use of this data, as it is provided solely for informational purposes and as a directional indicator of market trends.
By integrating ESOMAR's ethical guidelines into our research methodology, we ensure that our practices are transparent, respectful of data confidentiality, and aligned with internationally recognized standards. This commitment not only reinforces the credibility of our insights but also builds trust with our stakeholders and industry partners.
Red Sea cargo volumes plummet by 21% in 2024 following ship attacks
Posted on March 4, 2024 |
Cargo volumes between the Gulf of Aden and Red Sea ports dropped by 21% compared to the same period last year.
Merchant ships are avoiding the region due to concerns over attacks by the Houthis, leading to a significant decline in arrivals.
Houthi attacks on ships in the Red Sea and the Gulf of Aden began in November 2023, prompting container and gas carriers to avoid the area by December.
By January, there was a notable reduction in transit across various sectors, with a 50% decrease in ships passing through the Gulf of Aden and a 37% decrease in the Suez Canal compared to the previous year.
Container ship transits through these regions have decreased by 70%.
The attacks have directly impacted the ability of regional countries to trade, forcing some to seek alternative routes despite higher costs and longer transit times.
Countries like Saudi Arabia, Jordan, and Egypt have alternative routes available, such as Dammam in the Persian Gulf and Mediterranean ports like Alexandria and Damietta.
However, countries like Sudan, Somalia, Eritrea, and Yemen lack viable alternatives, resulting in a 25% year-on-year decrease in shipments in 2024, though Djibouti has experienced stable shipments.