Five weeks into the Strait of Hormuz closure and spot rates on every major East-West trade lane have risen sharply, showing this is a conflict with global repercussions for ocean supply chains.
Latest Xeneta ocean container shipping data highlights are provided below quotes from Xeneta Chief Analyst Peter Sand.
Xeneta has also published a dedicated webpage with the latest updates on the Middle East conflict including a live port congestion map.
Xeneta analyst insight
Peter Sand, Xeneta Chief Analyst:
“Five weeks into the Strait of Hormuz closure and spot rates on every major East-West trade lane have risen sharply, showing this is a conflict with global repercussions for ocean supply chains.
“From Far East to North Europe and Mediterranean – trades with direct exposure to the Middle East disruption – spot rates are up 31% and 30% since the end of February.
“No shipper is insulated from financial or operational risk. Far East to US West Coast – a trade which transits the Pacific thousands of miles from the epicenter of conflict – has seen spot rates climb 29% since the end of February. (....)