Shippers negotiating new contracts this year face a major rates dilemma as the maritime industry contemplates a return to using the Suez Canal.
When carriers revert to transiting the canal, the reduction in voyage tonne-miles will begin to expose the overcapacity in the market, pushing a significant downward trend in freight rates, especially on Asia-Europe trades.
Shipping analyst Drewry estimates rerouting round the Cape of Good Hope reduced effective capacity by around 9%, «which has helped carriers once again post some very strong quarterly profits in the past 12 months».
In 2022, Eurasian rail container transportation faced two main challenges.
An analytical report on the prospects of the Middle Corridor (also known as the Trans-Caspian Corridor) has been prepared at the initiative of the Ministry of Transport of Uzbekistan, in collaboration with local and foreign partners
