Suez Canal - Update #3

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Suez Canal - Update #3



Suez Canal - Update #3

As you know the vessel was refloated a week ago enabling the opening of the Suez Canal to start working through the logjam of vessels anchored at both ends.

As of yesterday Canal authorities were advising the backlog has been cleared. There are actually still a number of vessels awaiting passage but this is normal. The number anchored is usually around 25 vessels but currently is around 65.

Most of the backlog westbound was headed for European ports. However, nine vessels destined for the U.S. will be arriving on the East Coast between April 10 and 20 according to the Journal of Commerce. This will result in possible bunching at some ports with further terminal congestion and delays to be expected. Terminal operators and truckers have time to prepare for this but delays are possible.

It should be noted that there will be some trickle-down impacts on shipping worldwide for a period of weeks as vessel schedules get adjusted and containers are able to be repositioned. We will continue to monitor this situation and keep you advised for specific shipments that may be affected. Please feel free to contact us with any questions and will update ETAs as information becomes available.