Daily Maritime Pulse – March 24, 2025
Global Shipping Metrics
Dry Bulk Freight: The Baltic Dry Index (BDI) ticked up to 1,652 points (a one-week high) on Monday, gaining 0.6% as rates improved across capesize, panamax, and supramax segments (Rising rates across all segments push Baltic index to one-week peak - 2025-03-24 | MarketScreener). Capesize vessels (typically hauling iron ore and coal) saw average earnings rise to about $22,311/day amid firm demand (Rising rates across all segments push Baltic index to one-week peak - 2025-03-24 | MarketScreener). This upswing follows several weeks of volatility, but analysts caution that a full Red Sea reopening later in the year could add capacity and pressure rates going forward (Baltic Index Declines To 1-Year Low).
Container Freight Rates: Global container spot rates continue to soften. Drewry’s World Container Index fell ~4% this week to $2,264 per 40’ box (FEU) (Container Freight Rates Continue Downward Slide as Market Stabilizes – Ship Universe) – still ~59% above 2019 pre-pandemic averages but far below the 2021 peak. Key trade lanes saw notable week-on-week rate declines: Shanghai–Los Angeles spot rates dropped about 9%, Shanghai–New York fell 7%, and Shanghai–Rotterdam slipped ~2% (Container Freight Rates Continue Downward Slide as Market Stabilizes – Ship Universe). The Shanghai Containerized Freight Index likewise recorded single-digit rate dips on main East-West routes ('More pronounced' demand slump drives container spot freight rate declines - The Loadstar). Ample vessel capacity, easing demand after Lunar New Year, and balanced inventory levels are keeping container shipping in a more normalized pricing environment.
Port Throughput & Vessel Movements: Port congestion is gradually improving in Asia but remains an issue in some Western hubs. About 8.4% of the global container fleet (≈2.65 million TEU) is still tied up by port congestion worldwide (Ocean Freight Market Update March 2025 ), though this is down from 2021–22 peaks. In Europe, labor actions recently caused berthing delays up to 5 days at major ports like Antwerp, Rotterdam and Le Havre, contributing to backlogs. Chinese ports are operating below full capacity post-holidays, but the situation is better than last year. Overall vessel arrival tonnage at Singapore – the world’s busiest transshipment hub – hit a record 3.1 billion GT in 2024 (Singapore maritime breaks new records for arriving traffic, box… | Clemence Kng) , and schedule reliability has stabilized around ~51% on major routes (roughly on par with early 2024 levels).
Stock Market & Financials
Dry Bulk Equities: Dry bulk shipping stocks have seen choppy trading in line with freight indices. Star Bulk Carriers (NASDAQ: SBLK) closed around $16.58/share last week (Share Information | StarBulk Carriers Corp.), roughly flat week-on-week after giving back some mid-week gains. The stock is up significantly year-to-date, tracking BDI’s 65% rise since January (Baltic Exchange Dry Index - Price - Chart - Historical Data - News). Analysts remain bullish on bulk carriers’ cash flows amid strong iron ore and coal volumes, though any drop in freight rates (e.g. if the Red Sea route reopens fully) could temper this momentum. Smaller bulker owners like Genco and Eagle Bulk also traded steady, supported by recent dividend payouts and moderate fleet growth.
Tankers & LNG: Oil and gas shipping companies are holding near recent highs. Frontline (NYSE: FRO), a leading crude tanker owner, closed at $16.10 on Friday (Frontline Ltd Stock Price Forecast. Should You Buy FRO?) (down ~4.6% on the day after a strong run earlier in the week). Tanker earnings remain elevated – modern VLCCs and product tankers are earning multiples of their breakeven – which has kept stocks like Frontline, Euronav, and Scorpio Tankers well above last year’s levels. In LNG shipping, Flex LNG (NYSE: FLNG) and peers continue to offer high dividend yields as spot LNG carrier rates stay firm; investors expect a seasonal pickup in Q4 with new export projects coming online. Overall, the Bloomberg Tanker Index is up ~25% YTD, reflecting robust charter markets for both crude and gas carriers.
Container Lines & Logistics: The container shipping sector is in a post-boom normalization, and stock performance is mixed. ZIM Integrated Shipping (NYSE: ZIM) trades around $15–16/share (ZIM Stock Price and Chart — NYSE:ZIM - TradingView) after distributing a hefty $3.17/share dividend this month, though its stock is down sharply from pandemic-era highs as profits normalize. Industry leader A.P. Møller–Maersk (CPH: MAERSK-B) surprised markets with a Q4 earnings beat and resumed share buybacks, sending its Copenhagen shares up ~10% in mid-March (Maersk eyes 4% market growth in 2025, uncertainty over tariffs and Red Sea | Reuters). However, Maersk warned 2025 earnings will likely fall below 2024 levels as freight rates and volumes moderate. Hapag-Lloyd (XETR: HLAG) and other liners have also guided for lower 2025 profits, citing higher costs and softer demand. In the logistics arena, DP World and DHL are seeing stable volumes; supply chain congestion easing has shifted investor focus back to long-term e-commerce growth and efficiency gains.
Venture Funding News
Maritime Tech Investments: The past week brought fresh funding fuel to the maritime and logistics tech space. Singapore-based Motion Ventures announced a new $100 million fund on March 18 aimed at backing startups that digitize and decarbonize maritime supply chains (Maritime Industry Sees Surge in Startups and Investments in 2025 – Ship Universe). The fund plans to invest in at least 25 companies (with ticket sizes from $250k to $10M) over the next two years, signaling confidence in cleaner and smarter shipping solutions.
Autonomy & Green Tech: Startups developing autonomous vessels and green shipping tech secured notable rounds. Saronic (Austin, TX) and Seasats (San Diego, CA) – both working on uncrewed, AI-powered vessel platforms – each landed new financing deals, accelerating the real-world deployment of unmanned surface vessels for commercial and defense uses (Maritime Industry Sees Surge in Startups and Investments in 2025 – Ship Universe). And in Europe, Armada Technologies drew venture interest for its air-lubrication systems that cut ship fuel consumption, reflecting investor appetite for emissions-reducing tech in shipping.
Supply Chain Innovation: In logistics and insurance, Denver-based Parsyl raised $20 million in growth capital to expand its sensor-enabled marine cargo insurance offerings (Maritime Industry Sees Surge in Startups and Investments in 2025 – Ship Universe). Parsyl uses IoT data (temperature, humidity, location trackers in containers) to insure perishable and high-value goods in transit, an area of rising importance for supply chain risk management. Meanwhile, major industry players are also partnering with startups: e.g. Trafigura joined a $12M round for Circulor, a blockchain platform for commodity traceability, and Maersk Growth invested in a port-call optimization startup – all part of a broader push toward digital efficiency and sustainability in maritime.
Deep Dive into Key Players
Maersk: A.P. Møller – Maersk, the world’s second-largest container line, navigated the market downturn relatively well. The company reported 2024 as its third-best year ever by profit, aided by cost discipline and temporarily higher freight rates on longer reroutes during the Red Sea crisis (Maersk reports third-best financial year | Maersk). In its recent annual meeting, Maersk affirmed an outlook of ~4% growth in global container volumes for 2025 and plans to “grow with the market” (Maersk eyes 4% market growth in 2025, uncertainty over tariffs and Red Sea | Reuters) – essentially holding its share even as overall trade stabilizes. However, CEO Vincent Clerc cautioned that 2025 profits will likely decline from 2024’s $12+ billion EBITDA to around $6–9 billion (guidance) as shipping normalization continues. Maersk has resumed shareholder rewards (a $2 billion buyback and a higher dividend) on the back of its strong balance sheet, and it continues investing in integrated logistics services to buffer against volatility in its core ocean freight business.
Trafigura: Commodities trading giant Trafigura saw a sharp financial hit in its last fiscal year. The firm’s net profit for FY2024 (ended Sept) plunged 62% to about $2.8 billion (Trafigura net profit, equity drops after Mongolia fraud | Reuters), the lowest in four years, after it absorbed a $1.1 billion loss from a fraudulent oil export scheme in Mongolia (Trafigura net profit, equity drops after Mongolia fraud | Reuters). This Mongolia scandal – involving missing oil and unpaid bills over several years – followed an unrelated $600 million loss Trafigura took in 2023 on a fake nickel cargo scheme, underscoring the risks in global trade. Despite these setbacks, Trafigura’s trading volumes remain robust: it moved a record 6.8 million barrels per day of oil and petroleum products in 2024 (Trafigura net profit, equity drops after Mongolia fraud | Reuters), capitalizing on market volatility. The company is also undergoing a leadership transition, with long-time CEO Jeremy Weir stepping down in January and Richard Holtum (head of gas & power) taking the helm. As one of the world’s top commodity traders, Trafigura is now focusing on rebuilding trust (amid a Swiss corruption inquiry and adjusting risk controls, while leveraging its massive logistics network to profit from commodity imbalances.
Glencore: Mining and trading behemoth Glencore has been making strategic moves, particularly in coal. In early March, Glencore received Canadian regulatory approval to acquire 77% of Teck Resources’ metallurgical coal business for roughly $6.9 billion, a deal first struck late last year (Canada Approves Glencore’s $6.93 Billion Acquisition of Teck Resources’ Coal Unit – The Coal Trader) (Analysts expect Glencore to keep coal assets after Teck purchase | Reuters). This acquisition (now completed) adds around 12-14 million tons of annual steelmaking coal output to Glencore’s portfolio, on top of its large thermal coal operations. The company has hinted at possibly spinning off its combined coal unit to appease ESG-focused investors, but so far Glencore appears inclined to retain its coal assets given their strong cash generation. Analysts note that with coal prices still relatively high, investors “appreciate the strong cash flow from coal, particularly if channeled into buybacks” rather than divestment. Outside of coal, Glencore reported lower production volumes in 2024 for key metals like copper and nickel due to operational issues (Glencore reports lower metals production in 2024 - Reuters), but high commodity prices kept its earnings healthy. The company is also a major trader of oil and metals; executives have said they’re watching geopolitical shifts (like U.S.–China trade tensions and the energy transition) closely to adjust trading strategies. Glencore’s aggressive bid for Teck’s assets, and its continued shareholder consultations on coal, underscore its role as a market mover willing to make bold bets in the commodity shipping and trading arena.
Other Movers: In the container shipping arena, CMA CGM grabbed headlines by announcing a $20 billion investment into U.S. ports, shipbuilding, and logistics over the next four years (Trump hails $20 billion investment by shipping firm CMA CGM | Reuters). Privately-owned CMA CGM (the world’s #3 carrier) is leveraging its windfall profits from the past two years to expand its footprint – including plans to grow its U.S.-flag fleet from 10 ships to 30 and establish a major air cargo hub in Chicago. This reflects a broader trend of shipping lines reinvesting gains into vertical integration and infrastructure. Meanwhile, commodity majors like Cargill and Louis Dreyfus are reportedly boosting their fleets of bulk carriers (often via long-term charters) to secure grain and fertilizer supply lines amid war-related disruptions (Baltic Index Declines To 1-Year Low). And in energy shipping, Saudi Aramco’s shipping arm (Bahri) signaled potential new VLCC orders, anticipating strong crude demand. These moves by industry leaders across different sectors highlight a theme of shoring up supply chain control and resilience after the tumult of recent years.
Major Shipping Lanes & Trade Flows
Singapore: The world’s busiest transshipment port continues to break records. Singapore’s container throughput reached an all-time high of 41.1 million TEUs in 2024, up from 39.0 M TEUs in 2023 (Singapore maritime breaks new records for arriving traffic, box… | Clemence Kng). The port also logged 3.1 billion gross tons of vessel arrivals last year. This growth came despite global disruptions, underlining Singapore’s strategic role in routing East-West and Intra-Asia trade. Notably, about 90% of Singapore’s boxes are transshipment cargo, and booming intra-Asia trade (which now exceeds Asia–Europe volumes) is bolstering regional flows. Congestion at Singapore has eased compared to mid-2024 when rerouted ships (avoiding the Red Sea) caused backlogs – average wait times are down and additional berths have been activated. As of now, port operations in Singapore and Southeast Asia are near normal, though slight vessel bunching can occur during European port strikes (when ships bunch on arrival). Overall, Southeast Asian trade lanes are expanding, benefiting hub ports like Singapore and Tanjung Pelepas; analysts expect intra-Asia container volumes to triple Asia–Europe volumes by 2030, further entrenching Singapore’s hub status.
Suez Canal: Traffic through the Suez Canal is gradually recovering after the upheaval caused by conflict in the Middle East. Over the past months, security risks in the Red Sea (stemming from the Yemen conflict and spillover from the Gaza war) led many ship operators to reroute vessels around the Cape of Good Hope, dramatically cutting Suez transits. The canal has been handling only about 32 ships per day, less than half of its normal ~75 ships/day flow (Traffic in Suez Canal is expected to normalize by March - SAFETY4SEA). This drop contributed to an estimated 60% fall in Suez Canal revenues year-on-year for Egypt. However, with a ceasefire largely holding, the Suez Canal Authority (SCA) projects that shipping traffic will return to normal by late March 2025, and fully recover by mid-year, assuming stability continues. Indeed, since February, dozens of ships have resumed their usual Asia-Europe routes via Suez (Navigating Challenges and Strategic Rerouting in 2025). SCA’s chief Osama Rabie noted that by mid-March some larger tankers were still avoiding the canal, but confidence is returning. In the longer term, Egypt is moving ahead with a 10 km canal extension to increase capacity by 6–8 ships per day (Suez Canal Authority issues navigational maps for planned extension | Reuters) and has paused any toll hikes for 2025 to encourage shippers to come back. For now, the Suez remains a critical but vulnerable chokepoint: industry players are watching both the security situation and the SCA’s decisions closely.
Panama Canal: After a year of drought-induced disruptions, the Panama Canal is seeing improved conditions and a rebound in transit volumes. Severe drought in 2023 had forced the Panama Canal Authority (ACP) to impose draft restrictions and cap daily transits (sometimes as low as 22 vessels per day) due to low water levels in Gatun Lake (Panama Canal transits bounce back after drought). Shippers faced delays and some rerouted U.S. East Coast-bound cargo via Suez or around the Cape. But with the return of normal rainfall, the ACP eased those limits: the maximum ship draft is back up to 50 feet and daily transit slots were raised to 36 (near full capacity) this quarter (Panama Canal is Lifting Restrictions as Water Levels Normalize | John S. Connor). In fact, for the first four months of FY2025 (Oct 2024–Jan 2025), canal transits jumped 25% compared to the same period a year prior, reflecting a return of vessels. By February, the canal was operating close to normal, though officials caution that seasonal draft restrictions could recur in the next dry season (early 2025) if rainfall is lower than expected. The canal’s importance is underscored by its typical share of trade – ~46% of Asia–US East Coast container traffic flows via Panama. To secure the waterway’s future, Panama is investing in projects like a new reservoir and even exploring water-saving lock designs. Geopolitically, the canal has drawn attention too: the U.S. is reportedly examining ways to ensure access amid China’s growing presence in Panama, with some in Washington floating ideas from partnerships to more drastic measures (Pentagon considering military options for Panama Canal access: Report | Border Disputes News | Al Jazeera). For now, improved water levels have alleviated the immediate logistical bottleneck, and carriers have reinstated most services via Panama, restoring this vital link between the Pacific and Atlantic trade routes.
Commodities & Arbitrage
Oil: Crude oil prices firmed over the past week. Brent crude settled around $72.16/barrel on Friday, with WTI at $68.28 (Oil prices rise for second consecutive week on expected tighter supply | Reuters) – maintaining a ~$4 spread that favors U.S. exports into the global market. Both benchmarks notched their second consecutive weekly gain, with Brent up ~2.1% w/w. The market was supported by expectations of tighter supply: the latest OPEC+ plan calls for several members to cut output (to offset prior overproduction) by a collective 0.19–0.43 million bpd through mid-2026. Additionally, the U.S. announced fresh Iran oil sanctions, even sanctioning a Chinese refiner, in a bid to curb Iran’s ~1.8 Mbpd exports. Analysts estimate these moves could remove ~1 Mbpd of Iranian crude from the market. The prospect of stricter enforcement on Iran, along with talk of a U.S. SPR restock later this year, has injected a risk premium. Still, upside for prices is capped by concerns over global demand and a potential supply response if prices rise too much.
Coal: Thermal coal prices have slipped to multi-year lows. The benchmark Newcastle coal futures dropped to about $97 per tonne in March, the lowest in nearly four years, amid an outlook for increasing global supply and adequate utility stockpiles (Coal - Price - Chart - Historical Data - News - Trading Economics). This is a dramatic comedown from the $400+ highs seen during the 2022 energy crisis. In Europe, weak natural gas prices and a warm winter curbed coal burn, while China’s domestic coal output hit record levels, reducing import needs. The Atlantic-Pacific arbitrage for coal has narrowed – at sub-$100 levels, some U.S. and Colombian coal becomes less economical to ship to Asia. However, any supply hiccup (or a hotter-than-expected summer boosting power demand) could stabilize prices. On the metallurgical coal side (used for steelmaking), prices are somewhat stronger but also under pressure as China boosts Australian coal imports after lifting an unofficial ban.
Iron Ore: Iron ore (62% Fe, CFR China) is trading around the $100–105 per ton range. Prices hit a one-week low near $102/ton last week (Iron Ore Hits 1-Week Low on Weak China Outlook — TradingView News) as sentiment turned cautious on China’s steel outlook. Chinese steel rebar futures fell to six-month lows, reflecting sluggish construction demand. China’s property market remains soft – new home prices have been falling despite policy support – which in turn dampens steel consumption. Beijing also reiterated its commitment to crude steel output caps for 2025, aiming to cut about 50 million tons of production to curb emissions and overcapacity. These factors have tempered what was a rally in iron ore earlier this year. On the flip side, infrastructure stimulus and stockpiling ahead of possible second-half stimulus in China are providing some floor to prices. The miner-trader arbitrage (buying in one market to sell in another) is muted: with iron ore in the low $100s, high-cost producers (like India or marginal Australian mines) are marginally profitable, so supply is steady. Any further price drops might prompt output cuts, whereas a resurgence in demand (e.g., if China launches new stimulus) could quickly tighten the market – a dynamic traders are watching closely.
LNG: The Asia–Europe LNG price spread has essentially disappeared, limiting inter-basin arbitrage for now. Asian spot LNG for April delivery is about $13.50 per MMBtu (Asian spot LNG price flat amid bearish Europe gas sentiment | Energy EXCH), hovering near a 10-week low amid mild late-winter weather and ample inventories. Meanwhile, European TTF gas prices have also been soft (around $13.30 per MMBtu equivalent), thanks to near-full storage and steady LNG inflows. As a result, Asian LNG is only at a $0.20 premium to European gas (Asian LNG and TTF prices to hold steady after Ukraine's acceptance ...) – a narrow spread that barely justifies shipping cargoes from the Atlantic to Asia. Some late winter spot demand emerged from North Asia (e.g. Japan and Korea made small purchases due to a brief cold snap), but it wasn’t enough to move prices significantly. Traders note that at these price levels, oil-indexed LNG contracts (still common in Asia) are competitively priced, and buyers with flexibility are staying on the sidelines. Looking ahead, the front-month JKM is in the low-$13s while summer strips are in the mid-$13s, indicating a relatively flat forward curve. A wildcard for arbitrage will be European demand this summer: if EU prices fall further (with storage already ~56% full by end of winter, more Atlantic LNG could seek Asian outlets, potentially widening the spread again. For now, LNG shipping remains in a wait-and-see mode – vessel spot rates are moderate, and Asian importers are content with their inventories as the shoulder season begins.
Grains: Global grain prices are stable to slightly weaker, with plentiful supplies offsetting war-related supply risks. Chicago wheat futures have dipped toward $5.55 per bushel (SRW wheat for May) – an over one-week low – amid lackluster U.S. export sales and a firm dollar eroding competitiveness (Wheat - Price - Chart - Historical Data - News - Trading Economics). U.S. wheat exports year-to-date are running behind pace, as Russia’s continued large shipments (despite the Black Sea tensions) and a big Australian harvest have kept the world wheat market well supplied. Corn prices are range-bound around $6.20/bu for May on the CBOT, pressured by an expected record Brazilian safrinha corn harvest coming this summer. The Russia-Ukraine war still injects some risk: Ukraine’s grain exports are down ~20% YoY, and the Black Sea Grain Initiative remains tenuous with periodic Russian blockages. However, other producers have filled much of the gap, and Ukraine has increasingly moved grain via rail and Danube barges to Europe. Notably, arbitrage between U.S. and Brazilian corn is active – Chinese buyers recently booked several U.S. corn cargoes as prices dropped, taking advantage of a narrow U.S.-Brazil price spread. For soybeans, strong demand from China earlier this year has eased as Brazil’s record crop hits the market, flipping the arbitrage so that U.S. Gulf beans are now cheaper into some Asian destinations. Overall, while geopolitical and weather headlines can roil grain markets in the short term, the current environment of adequate supply and only modest demand growth has kept agricultural commodity prices in check.
Expert Opinions & Policy Insights
Market Outlook – BIMCO: Shipping analysts are weighing the impact of geopolitical shifts on supply-demand. Peter Sand of Xeneta (and former BIMCO chief analyst) remarked that “uncertainty is toxic for trade” – shippers have been overwhelmed by rapid swings in demand and policy. From a carrier perspective, a key uncertainty is the Red Sea corridor: a BIMCO economist noted that a full restoration of safety in the Red Sea could bring back significant vessel capacity into use, potentially leading to a “weaker supply-demand balance in 2025 compared to 2024” if ships that had been stuck in longer routes return to shorter Suez transits (Baltic Index Declines To 1-Year Low). In other words, an end to the Red Sea conflict (allowing normal Suez traffic) might ironically soften freight markets by reducing the need for lengthy reroutes that soaked up tonnage.
Trade Policy – Tariffs & Alliances: On the policy front, industry leaders are adapting to a shifting regulatory landscape. In container shipping, the EU’s block exemption for liner consortia expired in Q1 2024, meaning carrier alliances now face standard antitrust scrutiny in Europe. So far this hasn’t broken up the major alliances, but carriers are treading carefully in capacity management to avoid legal issues. Meanwhile in the US, the focus is on strategic trade and shipbuilding: President Trump’s administration floated an idea to levy fees on foreign-built ships calling at US ports (Trump hails $20 billion investment by shipping firm CMA CGM | Reuters), aiming to boost American shipyards. This has raised concern among shipping companies; CMA CGM warned such a move would have a “big impact on all shipping firms” by effectively taxing a huge portion of the world fleet. Separately, the Federal Maritime Commission (FMC) has been closely monitoring container line pricing and export services – in the past week, FMC officials noted that export container availability has improved significantly from last year, though agricultural shippers still urge carriers to prioritize repositioning of empty boxes to inland grain regions.
Industry Voices – Maersk & Others: Many executives emphasize that fundamental demand, not just politics, drives shipping. Vincent Clerc, Maersk’s CEO, recently downplayed the direct effect of tariff threats, arguing consumer demand is the real key: “At the end of the day, it’s not tariffs that matter for volumes, it’s consumption. If a person wants to buy a television, we’re going to move it – but if tariffs translate into inflation, and people buy fewer TVs, then there’s fewer televisions for us to move.” (Maersk eyes 4% market growth in 2025, uncertainty over tariffs and Red Sea | Reuters) This perspective highlights that while new tariffs or trade wars grab headlines, their impact on shipping volumes will be seen through changes in end consumer behavior. Likewise, on the tanker side, several analysts at this week’s CERAWeek energy conference noted that even if governments impose price caps on Russian oil, the oil will find ways to move – often on older “shadow fleet” tankers – so global tanker demand remains resilient. And in dry bulk, Golden Ocean’s CEO Ulrik Andersen commented that the Cape-size segment is positioned for an upturn later in 2025 if Chinese stimulus kicks in: “We’ve scrapped a lot of older tonnage; once iron ore demand returns, the market could become surprisingly tight.” On the regulatory front, environmental rules loom large: IMO’s CII and EEXI regulations that took effect in 2024 are forcing shipowners to slow-steam or retrofit less efficient ships. Clarkson Research estimates this effectively reduced available bulk carrier capacity by 1-2%, supporting freight rates. Policymakers are also discussing carbon pricing for shipping – the EU launched its maritime ETS (emissions trading system) this year, pricing CO₂ from voyages in/out of Europe. Early indications show marginal costs per voyage that carriers can manage, but as prices rise, it could spur faster adoption of green fuels. Overall, the sentiment among experts is cautiously optimistic: despite near-term headwinds (war, inflation, policy changes), the industry has proven agile, and many foresee a rebound in volumes once macro uncertainties abate.
Curious Maritime Fact
Did you know? Four years ago this week, a single ship’s mishap underscored the importance of global shipping. On March 23, 2021, the 400-meter Ever Given ran aground in the Suez Canal, blocking the canal for six days and halting an estimated $9.6 billion of trade per day (Suez Canal blockage halts $9.6bn a day of ship traffic | International Trade News | Al Jazeera). Over 350 ships were stuck waiting as salvage teams worked around the clock. This one incident (~30% of global container volume transits the Suez) disrupted supply chains worldwide – delaying everything from oil shipments to holiday goods – and became a viral sensation. The Ever Given was eventually freed on March 29, 2021, and the backlog of ships took over a week to clear. The saga highlighted how even a brief chokepoint closure can have massive ripple effects on the world economy, and it spurred renewed efforts in route diversity, contingency planning, and perhaps a few more people learning about maritime trade!
Disclaimer:
This newsletter Sagisu Shipping ("Daily Maritime Pulse") is provided strictly for informational purposes and should not be interpreted as financial or investment advice. The views, opinions, news, and analyses presented herein reflect current market conditions and industry insights and are subject to change without notice. Readers should always perform their own due diligence, seek independent advice from financial professionals, and carefully evaluate their own financial circumstances before making investment decisions.
The authors, editors, or affiliated individuals of this publication may hold direct or indirect equity exposure or other financial interests in the companies and industries discussed. Therefore, there may be a potential conflict of interest regarding any business or security mentioned. This newsletter neither recommends nor endorses the buying or selling of specific securities or financial instruments.