Affected by the situation in the Red Sea, many shipping companies suspended the Red Sea shipping business

2023-12-19 364

According to the latest news, due to the tension in the Red Sea area, many shipowners have notified to suspend the booking operation of cargo related to the Red Sea. Maersk, Dafei Group, Beurotte, Mediterranean Shipping and other four major liner giants in the world have successively announced the suspension of all Container transportation through the Red Sea. This decision not only affects the operation of liner companies, but also raises concerns about the global supply chain and trade costs.

Market fluctuation caused by liner company stopping Red Sea business
In this case, there is an obvious reaction in the stock market. Shares of Ningbo Ocean Shipping, Jinjiang Shipping, Antong Holdings and Haifeng International, which are domestic liner companies near the ocean, rose. At the same time, COSCO Haineng, China Merchants Steamship and China Merchants Nanyou also rose in terms of oil transportation stocks. This shows that the market has reacted sensitively to the changes in the situation in the Red Sea.

The situation in the Red Sea pushes up the price of container shipping European line
At present, the Container market shows the trend of peak season, and the mainstream shipping companies in Europe and America may extend the voyage around the Cape of Good Hope by about 10-20 days, resulting in increased costs and freight charges. According to the data of Ningbo Airlines Exchange, the NCFI index has been going up for four consecutive weeks, with an increase of 62.9%. This means that the freight rate of the European line will rise, which may have an impact on the futures of the container transportation index (European line) in the short term.

Geopolitical events may affect the big cycle again
Analysts believe that with the emotional support of geopolitical events and the continuous rise of the spot freight center, the futures of the container transportation index (European line) will maintain a strong trend. However, they also pointed out that the sustainability of the incident disturbance itself is unstable, and the premium it brings to the freight rate may be vomited back due to the rapid change of events.

The situation in the Red Sea has an impact on the shipping market and freight forwarders
In addition, there have been a series of changes in freight forwarding. If other liner giants suspend their Red Sea business and COSCO Shipping does not, COSCO Shipping may become the object of much attention. Although it is expected that the EC disk will maintain a strong trend in the short term under the emotional support of geopolitical events and the continuous rise of the spot freight center; However, it should be noted that the sustainability of event disturbance itself is unstable.

The tanker market is also affected to some extent
Maersk has announced that its tanker fleet can avoid the Red Sea and bypass the Cape of Good Hope if necessary. However, Bulk has not yet done anything similar. Judging from the traffic situation of Suez Canal, there is no shortage of supply at present.