Global container port congestion hits record high

Congestion of containers is hitting new all-time highs, bucking talk of an imminent return to normal supply chains.
 

The container port congestion index created by British brokerage Clarksons set a new record on July 14, with 37.8% of container fleet throughput at ports. This surpasses the previous peak level recorded at the end of October 2021 and is well above the 31.5% average recorded between 2016 and 2019.
 

37.8% of container capacity is in ports
 

"There is still no solution to the problem of non-ocean bottlenecks, which are the main drivers of supply and demand and not good for shippers," said the latest weekly report from Danish container consultancy sea intelligence.
 

The report goes on to list the 70,000 truck drivers who just went on strike in California, as well as tens of thousands of containers clogged at U.S. West Coast ports, waiting to be transported by rail to their destination because there are not enough engineers.
 

Nearly 30,000 rail containers have been delayed at terminals at the Port of Los Angeles alone, with shipments bound for rail lingering for an average of 7.5 days. Meanwhile, on the East Coast, congestion levels brewing over the past two months are approaching all-time highs.
 

In Europe, it was "paralyzed" by a strike by port workers. Maritime traffic figures show nearly 200,000 TEUs are waiting for berths to open. News of labour action across Europe keeps coming, the latest being three rail strikes planned across the UK over the next month.
 

At the same time, the Asian monsoon and typhoon seasons have arrived, and the epidemic prevention and control measures of various countries have to be faced. Overall, the total trade stranded at sea is estimated to be around $30 billion.