All major ocean carriers have announced continuations of service suspensions via the Suez Canal as a result of maritime security issues in the Red Sea region. With an estimated 30% of global container trade moving via the Suez Canal, these disruptions are having significant impacts on global ocean freight movements.

Additionally, draught conditions around the Panama Canal continue to restrict vessel movements. In January, the Panama Canal will allow 24 vessel passages per day, down from their normal allowance of 36 passages per day.

Inconsistent schedules and longer transit times can be expected as a result of these situations. Carriers have also introduced large rate increases and emergency surcharges due to the increased cost and liability of moving goods through the region. At this time, minimum booking windows are three (3) to six (6) weeks out from the estimated departure date.

Due to the nature of these disruptions, RIM recommends adhering to strict booking forecasts and planned allocations, as this is critical to secure space with the carriers. We also anticipate additional demand pressures ahead of Chinese New Year, which falls on February 10th, 2024.

RIM has a number of solutions available to help you navigate these disruptions, including transload services, rail services via the US West Cost, expedited FCL and LCL offerings, and air freight alternatives.

We will continue to monitor this situation closely and will keep you informed of any updates. Please contact your RIM representative should you have any questions or need additional information.