What the Ship is Going on in the Red Sea and with Global Shipping (Ep96) | Updated on Houthi Attacks | Situation in and around the Red Sea, Bab el-Mandeb & Gulf of Aden | Diversion of Shipping | Suez & Panama Canals | Shipping Costs | What Other Issues?
What's Going on With Shipping?
Dec 23, 2023
In this episode, Sal Mercogliano - maritime historian @campbelledu - discusses the Top 5 Maritime Stories as of Dec 23, 2023, relating to the situation in the Red Sea, Bab el-Mandeb, and Gulf of Aden due to Houthi attacks on shipping.
#houthi #redsea #shipping #supplychain #babelmandeb #redsea #suezcanal #tankers #bulkers #containerships #chokepoints
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00:00 Global Shipping Picture
Marine Traffic
www.marinetraffic.com
06:38 1. Houthi Attacks Update
Israeli-Linked Ship Struck By Drone in Arabian Sea
https://gcaptain.com/israeli-linked-ship-struck-by-drone-in-arabian-sea/
White House Accuses Iran of Helping Houthi Target Ships
https://gcaptain.com/white-house-accuses-iran-of-helping-houthi-target-ships/
Red Sea security in limbo as shipping awaits detail of naval operations
https://www.lloydslist.com/LL1147675/Red-Sea-security-in-limbo-as-shipping-awaits-detail-of-naval-operations
Spain, Italy, France Decline US Command Of Red Sea Operation Prosperity Guardian
https://gcaptain.com/spain-italy-france-decline-us-command-of-red-sea-operation-prosperity-guardian/
French Navy Escorts CMA CGM Ships While US Ships Remain Stranded
https://gcaptain.com/french-navy-quits-operation-prosperity-guardian/
US-led forces in Red Sea will be defensive ‘highway patrol’
https://www.freightwaves.com/news/us-led-forces-in-red-sea-will-be-defensive-highway-patrol
Shipping’s protectors face ‘exquisite dilemma’ in the Red Sea
https://www.lloydslist.com/LL1147678/Shippings-protectors-face-exquisite-dilemma-in-the-Red-Sea
18:23 2. Diversions
Carriers still sending ships via Suez
https://container-news.com/carriers-still-sending-ships-via-suez/
Red Sea Ripples: Prolonged Voyages, Soaring Fuel Costs, and Escalating Carbon Emissions Concerns
https://gcaptain.com/red-sea-ripples-prolonged-voyages-soaring-fuel-costs-and-escalating-carbon-emissions-concerns/
Extended Detours: Maersk Reroutes Services Around Cape of Good Hope
https://gcaptain.com/extended-detours-maersk-reroutes-services-around-cape-of-good-hope/
24:22 3. Suez and Panama Canals
How Houthi attacks in the Red Sea impact shipping in the Suez Canal
https://www.reuters.com/markets/commodities/how-are-red-sea-attacks-impacting-shipping-suez-canal-2023-12-18/
Panama Canal transits plunge as larger ships are turned away
https://www.freightwaves.com/news/panama-canal-transits-plunge-as-larger-ships-are-turned-away
Panama Canal to increase daily transits to 24 starting in January
https://pancanal.com/en/panama-canal-to-increase-daily-transits-to-24-starting-in-january/
CMA CGM announces new Panama Canal surcharges
https://container-news.com/cma-cgm-announces-new-panama-canal-surcharges/
November 2023 The McCown Report
https://capitallinkshipping.com/wp-content/uploads/2023/12/Monthly-Container-Volume-November-2023_compressed.pdf
33:11 4. What Are the Cost of Diversions?
Red Sea fallout much greater for containers than tankers, bulkers
https://www.freightwaves.com/news/red-sea-fallout-much-greater-for-containers-than-tankers-bulkers
Red Sea war risk rates ‘still rising’ after doubling in past week
https://www.lloydslist.com/LL1147660/Red-Sea-war-risk-rates-still-rising-after-doubling-in-past-week
Shipping Lines Impose Surcharges as Red Sea Attack Hit Global Trade
https://gcaptain.com/shipping-lines-impose-surcharges-as-red-sea-attack-hit-global-trade/
Higher Freight Rates to Offset Costs from Red Sea Diversions -Fitch
https://gcaptain.com/higher-freight-rates-to-offset-costs-from-red-sea-diversions/
Carriers are 'price gouging', claim shippers as FAK rates skyrocket
https://theloadstar.com/carriers-are-price-gouging-claim-shippers-as-fak-rates-skyrocket/
Red Sea crisis: Markets spike, consumers will pay the price
https://container-news.com/red-sea-crisis-markets-spike-consumers-will-pay-the-price/
Box ship owners may benefit from Red Sea and Suez diversions
https://theloadstar.com/box-ship-owners-may-benefit-from-red-sea-and-suez-diversions/
39:24 5. Other Issues
Empty boxes will be stuck in all the wrong places for new year peak
https://theloadstar.com/empty-boxes-will-be-stuck-in-all-the-wrong-places-for-new-year-peak/
African Ports Overwhelmed By Red Sea Reroutings
https://gcaptain.com/african-ports-overwhelmed-by-red-sea-reroutings/
Cargo owners consider airfreight alternative to Red Sea shipping delays
https://www.freightwaves.com/news/cargo-owners-consider-airfreight-alternative-to-red-sea-shipping-delays
45:32 Conclusion