18 Mar India-Europe Impacted By Red Sea Diversions
Vessel diversions have added an average of 10 days to what was traditionally a short European transit for shippers across India and the Middle East.
Red Sea disruptions have seen transit times from India to Rotterdam increase from 23 to 33 days, subsequently resulting in a backlog of cargo, capacity issues, intermittent void calls and fewer westbound sailings.
Whilst the situation appears to be improving, securing space on ships continues to be a challenge, which is exacerbated by soaring rates, and surcharges on export containers that has seen the average spot rate from the Indian west coast to North Europe hit $3,474 per FEU, up from $806 per FEU at the end of December.
Unfortunately India and Middle East trade lanes are the most susceptible to carrying these surcharges longer versus Asia > North Europe or Asia> North America and with the vessel schedule reliability declining to 59% in December, plus further deterioration expected, the situation appears far from recovering in the near future.
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