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Crisis in the Red Sea: Second Largest Capacity Drop Since the stranding of the Ever Given

In a new shake-up for maritime transport, the crisis in the Red Sea has marked the second-largest decline in capacity after the stranding of the Ever Given. A Sea-Intelligence report reveals a month of uncertainty in service networks, especially on routes from Asia to Europe. How does this crisis compare to past events, and what does it mean for global trade? Let’s delve into the details.

Sea-Intelligence’s analysis uses its Commercial Capacity Outlook report to contextualize the current changes. Present fluctuations are compared with normal volatility and market disruptions in recent years. In the graph, red circles highlight the Chinese New Year/Golden Week, events that typically accompany capacity drops due to reduced demand during these festivities.

The two pandemic periods are marked with green arrows: the first phase, which impacted only Chinese ports, and the second, when it spread globally. Alan Murphy, CEO of Sea-Intelligence, emphasizes the ‘Ever Given’ event, which had the most significant impact to date. However, he notes that part of this impact coincided with capacity changes related to the Chinese New Year. He emphasizes that the crisis in the Red Sea is the second-largest event, even surpassing the initial impact of the pandemic.

In conclusion, in a scenario where normalcy is elusive, the crisis in the Red Sea emerges as a new challenge to maritime trade stability. Comparisons with previous events, especially the stranding of the Ever Given, underscore the magnitude of the disruption. Although uncertainty persists, understanding these changes provides a crucial perspective for adapting and strengthening logistical strategies in an ever-changing maritime world.

Source: Sea-Intelligence.com, Domingo en Foco, edition 647