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Passing through the Panama Canal? It’s too congested! Yang Ming Shipping will bypass it!

Souhangwang https://www.sofreight.com/school/souhang_information_article?id=66512&type=2 2023-12-08 16:32:43

Passing through the Panama Canal? It’s too congested! Yang Ming Shipping will bypass it!

Recently, Yang Ming Shipping admitted that the impact of the drought in the Panama Canal was more serious than expected, and the US East Route has begun to bypass the Cape of Good Hope or the Suez Canal, and will not sail unless it is sure to obtain the right to access the lock.

According to the analysis of Du Shuqin, general manager of Yang Ming Shipping, the Panama Canal authority has announced that it will lower the minimum navigation volume starting from February next year. "This will have a great impact." The impact on container shipping has begun to increase, and liners must also follow suit to compete for bids. To obtain navigation rights.

Therefore, Yang Ming Shipping is now adding ships to increase flight density. It is starting to skip the Panama Canal and change routes around the Cape of Good Hope or the Suez Canal. It is adding one ship to each long-distance route to maintain service. The time from Asia to the Eastern United States has been reduced from the original 84 days. Stretched to 91 days.

Market Outlook 2024

Talking about the outlook for the global container shipping market next year, Yang Ming Shipping said frankly that the global shipping market continues to be affected by increased shipping capacity, high inventory, international geopolitical tensions, and weakened purchasing power caused by high inflation in the two major European and American consumer regions. Shipments before the Lunar New Year The trend is still unclear, and it is necessary to continue to observe the recovery of consumer demand.

Overall, uncertainties affecting the market in the first half of 2024 still exist, and the overall operating outlook still needs to be dealt with conservatively.

Du Shuqin analyzed that the speed of new ships entering the world and the replacement of old ships is unclear, and freight rates still depend on supply and demand. Overall views on freight rates in 2024 will still face pressure from market changes.

Since 2022, the comprehensive freight index has generally shown a downward trend. To view more routes and shipping company freight rates, you can register on the computer and log in to Sohang.com.

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