As the Panama Canal’s climate and water woes continue Maersk is switching to use a land bridge for an Oceania – Americas service which will be split in two.

An apparently indiscriminate attack on commercial shipping lanes in the Red Sea was carried out on January 9 and thwarted by US and UK naval assets.

Container spot freight rates between Asia and Europe jumped 60% in the space of two weeks and there have even been sharp increases on trades such as Asia – US West Coast which are not directly affected by the Red Sea crisis.

The attacks on shipping in the Red Sea have sharply driven up rates as vessels divert by the Cape of Good Hope attracting the interest of stock investors in listed container lines, although the situation remains extremely fluid.

Houthi rebel leader Muhammad Ali Al-Houthi has ordered his forces not to fire on vessels transiting the Red Sea which declare they have no connection to Israel.

As more and more ships divert from the Red Sea over the threat from Houthi rebels opinion writer Michael Grey warns the situation should not be allowed to drift on.

The ClarkSea index dropped 37% last year, however it was compared to an exceptional year in 2022 that was fuelled by the container markets.

NYK’s President has pointed to multiple geopolitical challenges affecting its ability to make immediate judgments on the group’s position in many countries.

Spot container freight rates from Asia – Europe have more than doubled over the last two weeks as lines divert via the Cape of Good Hope to avoid attacks in the Red Sea.