More delays at Singapore port
According to Fourkites data as of 25 June, the number of vessels arriving at the port of Singapore last month increased by 66% compared to May 2023, with Singapore experiencing nearly 50% more vessels through May 2024 compared to the same period last year.
For Fourkites customers, shipments delayed in Singapore rose by 44% year-over-year in May and 27% in June. Mike DeAngelis, Fourkites senior director, international solutions, noted that the lack of available empty shipping containers in key export markets is an ongoing concern.
Containers are being delayed due to various global issues including congestion in Singapore, diversions related to Red Sea attacks, reduced Panama Canal transits, and strikes in Germany and potential strikes in Canada and the US East Coast.
The early start of the annual peak season exacerbates these challenges, suggesting continued difficulties for carriers in repositioning empty equipment, impacting export markets like the Indian subcontinent. (pb)