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Red Sea crisis sparks short-term capacity challenges for shipping
Posted on January 15, 2024 |
Shippers are set to experience longer transit times with the adoption of the round-of-Africa route.
Travel from Asia to North Europe will take just over a week, while the journey to the Mediterranean could extend up to two weeks.
The current capacity outlook remains uncertain, causing concerns about a potential crisis in capacity for Asian exports in the coming weeks.
The impact on Asia-North Europe routes is due to a combination of delayed departures from Asia and rerouting decisions.
This situation is expected to lead to a significant drop in capacity around the week of January 22.