Greg Miller on LinkedIn: Supply chain-wise, current situation in the Red Sea is way more serious…
Supply chain-wise, current situation in the Red Sea is way more serious than the Ever Given grounding but much less serious than the COVID-era crisis. That…
LinkedInGreg Miller

"Supply chain-wise, current situation in the Red Sea is way more serious than the Ever Given grounding but much less serious than the COVID-era crisis. That said, impact on spot container rates is escalating rapidly. Huge increases in recent days, and spot rate rises will affect 2024 contract rates. This is not a Europe-only problem; it is also affecting U.S. imports. Deaths of 10 Houthi rebels over the weekend (after Houthis attacked U.S. military helicopters) raised the stakes, and the conflict could escalate much further at any moment. Click story link for latest rate data from Platts, Xeneta and Freightos"

Container shipping rates spike as Red Sea crisis draws first blood
Imports to Europe and the U.S. East Coast face heavy delays as Operation Prosperity Guardian fails to bring shipping back to the Red Sea.
FreightWavesGreg Miller