A report by the world’s largest shipbrokerClarksons reveals thatcongestion at global container ports is nearing the levels seen during COVID. About 9 million teus capacity is stuck at ports around the world, waiting to be serviced, as compared to 9.6 million teus noted during the COVID period. The detour around the Cape of Good Hope has added about 12% to the TEU-mile demand.
The main factors contributing to congestion are the impacts on port infrastructure and re-routing of vessel, which has been amplified by growing global trade volumes that have posted 8% year-on-year increase from January to April.
Noticing the shortage of shipping and equipment capacity during the peak season of third quarter, shippers have tried to move their exports earlier in May and June, causing the peak season to arrive early. The percentage of boxships waiting in port has gone up from 27.5% in late February to 31% in late June. Congestion has currently blocked 3% to 4% of the fleet, compared with 6% to 7% during the pandemic.
