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You are currently viewing Supply Chain Mayhem and the Port Impasse Drags Into 2023
Supply Chain and Port Challenges

Supply chain disruption including port congestion is at an all-time high with the “tide turning” so to speak by 2023.

“Actually, there are forecasts for a market correction. It has been ongoingly moving forward down the road,” said the online liner shipping solution tool, on Tuesday. “In fact, there is a mounting consensus which suggests that the present supply chain chaos will, in fact, last at the minimum throughout 2022.

Supply Chain – Shipping Boom, Sales-and-Purchase Market

There is confidence in the shipping boom’s duration. It has propelled the sale-and-purchase market for container vessels to record levels. “Moreover, the number of container vessels is changing hands is reaching an all-time high in 2021. It has offered shipowners what has shown them willing to pay almost any price to secure tonnage,” said the online liner shipping solution, which has noted there is the growing consensus on the longer market strength which may “justify [2021] purchases with delivery deferred to this year.”

Containers That Shipped

The online liner shipping solution tool has also reported that there were 572 container ships that were sold last year “equivalent to a staggering 1.94 million TEUs [twenty-foot equivalent units],” which is 26% higher than the previous annual record in 2017. It is a year when sales were inflating by the dramatic collapse of ocean carrier Hanjin.

Also, it is not just the S&P market. Moreover, in the charter market, the rates have also risen to a new all-time high in 2022. This includes the growing trend toward forward fixing far into the future. There are some vessels which are extending or are nearly fixing one year before being delivering,” said the online liner shipping solution tool.

In 2023, there is evidence of industry confidence. It is reporting that MSC has extending its charter of the 6,493-TEU MSC Bosporus for five years. It would be at $50,000 per day. This would include the extension not even beginning until this December. The online liner solution tool also reported that MSC would extending contracts for various 8,500- to 9,500 TEU ships owned by Danaos, with some only taking effect in 2023.

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