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With a backlog of over 450,000 TEU, Singapore Port is facing severe congestion!

Samira Samira 2024-05-31 11:21:47

Sunny Worldwide LogisticsIt is a logistics company with more than 20 years of transportation experience, specializing in markets such as Europe, the United States, Canada, Australia, and Southeast Asia. It is more of a cargo owner than a cargo owner~

The latest report from Bank of America shows that since March this year, worsening port congestion has caused the supply of container ships to decrease by more than 2%. Singapore, Dubai and the Mediterranean are the key congestion areas, while container supply in Asia is still very tight.


Linerlytica, a container consulting company, also said in its latest report: "Port congestion has once again disrupted the container market, with Singapore becoming the latest congestion point, and its container congestion situation has reached an unprecedented critical level." The report pointed out: Currently, a large number of ships are There are queues outside the Port of Singapore waiting to be berthed. The backlog of containers exceeds a staggering 450,000 TEUs. According to estimates, these ships will face a waiting time of up to seven days.


"Severe congestion has forced some liner companies to cancel plans to call at the Port of Singapore, which will put pressure on downstream ports, which will have to handle additional container volumes," Linerlytica noted.


There are also a large number of container ships queuing up in Shanghai and Qingdao, waiting for berth. As the world's largest container port, waiting times for ships at Shanghai Port have reached their highest level in three years.


Judah Levine, research director of container booking platform Freightos, commented: "Shipment delays and flight cancellations are one of the reasons for the shortage of empty containers and ship congestion in some ports in China. Singapore and Malaysia also have congestion problems." It is reported that Port Klang, Malaysia It ranks eighth on Linerlytica's list of the most congested container ports today.


Analysts at Sea-Intelligence noted in their latest weekly report: “Port congestion and a sudden surge in demand in Asia have absorbed a large amount of capacity, which is already insufficient in the market.”, adding: “Carrier cancellations are not actually "To limit capacity simply because they don't have the spare ships to maintain weekly service when ships get stuck in congestion."


In addition, HSBC said in a report to clients: "Port congestion has led to inefficiencies in cargo transportation. In order to ensure flight punctuality, some carriers have chosen to jump to ports, further reducing the already tight capacity."


Since November last year, the conflict in the Red Sea has had a profound impact on the global shipping industry. Ship sailing plans have been forced to change, which not only affects major ports in Asia and Europe, but also puts unprecedented pressure on global supply chains. As the conflict continues, the shipping industry is expected to face more challenges and uncertainties in the future.