Congestion Worsens in Rotterdam as Suez Canal Stranding Causes Surge for East Bank

The impact of the stranding incident in the Suez Canal on the container trade is beginning to show. Ocean freight rates from Asia to the East Coast of North America have risen by more than USD2000 in one month, surpassing USD7000, the highest level on record. Congestion at Rotterdam has also worsened.

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According to the International Air Transport Association (IATA), global air cargo traffic fell 8.3% in May from the same period last year, marking the third consecutive month of decline. The biggest f

Ocean freight rates decreased via the East Coast of North America (-1.7% week-on-week), via the West Coast of North America (-2.5%), Europe (-2%), and Korea (-2.7%).