Navigating the Shipment Industry: 5 Charts You Should Know

Global supply chains face disruption as major shipping companies redirect journeys away from the Red Sea. Attacks on vessels in the Red Sea have led to the suspension of transportation along this route by companies like Maersk and Hapag-Lloyd. This has caused a surge in global freight rates and a rebound in energy and industrial commodity prices. Concerns arise about the recurrence of supply chain risks in 2021 due to the uncertain situation in the Red Sea. We provide five charts for real-time tracking of shipping updates, which can be bookmarked and updated regularly.

1. IMF Shipping Data - Hormuz Strait, Suez Canal, Mandeb Strait, Cape of Good Hope

Why is this chart important? The IMF shipping data, developed collaboratively by the International Monetary Fund (IMF) and the Oxford University Environmental Change Institute through the PortWatch open platform, utilizes satellite technology and the Automatic Identification System (AIS) for real-time vessel data. It reflects global supply chain conditions in the trade market, tracking maritime trade flows and supply chain impacts caused by events like geopolitical conflicts and natural disasters.

The Red Sea is typically the shortest maritime trade route for goods from Asia to Europe, surrounded by four crucial straits: the Hormuz Strait between Iran, Oman, and the UAE, the Suez Canal connecting the Mediterranean and Red Sea, the Mandeb Strait between Yemen and Djibouti, and the Cape of Good Hope, historically essential before the opening of the Suez Canal. Over 20,000 vessels pass through these straits annually, with an average cargo volume exceeding 1.6 billion tons from 2020 to 2023, making them four of the world's vital maritime passages.
What does the recent chart reflect? Observing recent trends, except for the Cape of Good Hope, vessel numbers and tonnage for the other three straits (Hormuz Strait, Suez Canal, and Mandeb Strait) have significantly decreased. This is attributed to continuous attacks by the Houthi armed group in Yemen on vessels passing through the Red Sea since late 2023. Many shipping companies have declared the cessation of Red Sea routes, opting to detour around the southwestern tip of Africa at the Cape of Good Hope. The chart allows continuous monitoring of the sustainability of this phenomenon.

2. World - On-Time Rate & Delays by Sea Intelligence

Why is this chart important? The Global Liner Report, released monthly by Sea Intelligence, a Danish maritime consulting agency, compiles and analyzes data for 60 major container shipping companies and 12,000 vessels globally. Schedule reliability and delay days are crucial indicators when observing global trade, providing insights into port congestion and the adequacy of shipping capacity.
What does the recent chart reflect? Due to the Red Sea crisis at the end of 2023, several freight operators announced the suspension of Red Sea routes, impacting capacity (schedule reliability declining since October 2023 and an increase in delay days). However, overall, since the second quarter of 2023, schedule reliability and delay days have shown signs of a slight capacity shortage, reflecting a normal cycle of global demand hitting a bottom and rebounding. Even after the Red Sea attacks, the overall data remains within historical ranges, indicating limited impact on port congestion.