Economics & markets
Shipping rates are rising despite a vessel surplus
10 min
Global trade is facing a bizarre paradox where a record number of new container ships are hitting the water, yet Red Sea diversions are soaking up so much capacity that prices are surging. This looks at the logistical 'dead miles' that are making the global supply chain expensive again.
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Show notes
Global container ship capacity reached a record thirty-three point nine million units in June twenty twenty-six.
Rerouting ships around the Cape of Good Hope absorbs up to seven percent of global fleet capacity.
African detours add fourteen days to voyages and require two extra vessels per shipping loop.
Global freight costs surged twenty-three percent in early June as importers pulled orders forward to avoid tariffs.
Carriers are implementing peak season surcharges of up to one thousand dollars per container.
Vessel bunching at major ports has shifted the global crisis from ship shortages to berth shortages.
In this episode
- 1Intro1 min
- 2The Great Fleet Expansion of 20262 min
- 3The Red Sea Capacity Sponge3 min
- 4The June Rate Surge2 min
- 5The Cascading Effect and Port Congestion2 min
- 6Outro1 min
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