Global ocean freight markets continue to be heavily impacted by ongoing disruptions and conflict in the Red Sea. All major ocean carriers have suspended service via the Suez Canal, which normally provides passage of approximately 30% of global container traffic.

As a result, transit times, vessel capacity, and service levels on various trade lanes have been negatively affected. Due to this situation, carriers have implemented multiple rate increases in January, with the latest coming through on January 15th.

Space remains tight as we approach Lunar New Year, which falls on February 10th. Booking lead time of at least three (3) to six (6) weeks is recommended to secure space. RIM has a variety of service offerings available to help navigate this dynamic situation.

Please contact your RIM representative for more information on these options, as well as for assistance with any additional questions you may have. We will continue to monitor this situation closely and will keep you informed of any updates.