Suez route voyages recover; Drewry launches Red Sea Diversion Tracker

In the previous week, the number of containerships transits was just 10 – likely explained by the traditional post-Christmas lull in shipping.

The apparent increased popularity of the Suez Canal happened as CMA CGM/APL and MSC sent five 8,000teu+ containerships via the Suez Canal in week 2, up from two vessels of this size in week 1. Smaller, niche carriers continue to send relatively smaller ships via the Suez Canal. In week 52, Maersk had sent a 6,478teu containership operating on the US-Middle East route via the Canal, in a move regarded as a test.

In Drewry’s view, the industry will now watch whether other large carriers will continue to wait and see or resume Suez transits with their large vessels.

The number of voyages via the Cape of Good Hope also jumped in week 2, to 203, from 82 in the previous week.

The number of transits via the Suez Canal remains considerably below the normal level of about 55 per week Northbound and 25 per week Southbound before the Red Sea crisis started in late 2023.

“The return to the Suez Canal route is one of this year’s key influencing factors for capacity, freight rates, transit times and fuel consumption, and we believe our new Red Sea Diversion Tracker will help inform thousands of stakeholders in shipping,” said Philip Damas, managing director of Drewry.

Drewry will monitor and publish trends and expects larger carriers to remain cautious, increasing transits via Suez gradually; watching the insurance market, the early movers with whom they compete and the effect of ending diversions on freight rates. In Drewry’s view, a gradual return may minimise the bunching of ships arriving in Europe and avoid severe congestion.

Already the owner of the World Container Index, the most followed industry index on spot container rates and Intra-Asia Container Index, Drewry will publish the Red Sea Diversion Tracker every other Tuesday i.e. fortnightly. The tracker is accessible, free of charge, by registered/logged-in users of the Drewry website.

Red Sea Diversion Tracker - Containerships (weekly voyages)

Source: Drewry Supply Chain Advisors

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