On the 23rd of March, an Evergreen container ship got stuck across the Suez Canal (Egypt) blocking the whole traffic and arresting the path of a huge number of vessels. This meant more than a delay in the delivery of goods: as a matter of fact, this accident caused a daily drop of 9.6 billion of dollars (source: Bloomberg) and important consequences on ports congestion.
Now that the emergency is over, and the vessel dislodged, a huge decrease in export capacity (source: Shipping Italy) is expected for the next weeks, followed by a subsequent increase due to the arrival of ships in port, the so-called "domino effect" that is easily predictable.
The delays in the delivery of goods are leading to a lower number of ships unloaded, thus decreasing the availability of empty containers for the storage of products to export: a process that is already weakened due to the pandemic situation. Furthermore, given congestion and the lack of free landing places on docks, shipping companies have announced blank sailings.
All the above-mentioned facts lead to one more consequence related to Suez facts; prices for the service are rising, and this trend is expected to continue during the next weeks.
Moreover, European ports are dealing with congestion problems due to the late arrival of vessels, defining individual policies for each country.
D.B. Group team is at your complete disposal to find the best solution based on your needs.
Our teams constantly look for alternatives to allow our customers managing their shipments in the most efficient way.
We shall keep you informed about further developments.
D.B. Group
