Fear of Red Sea Disruptions May Be Pulling Forward Shipping Demand -- Market Talk

Dow Jones05-16

1454 ET - Unexpectedly high demand is pushing shipping rates higher, partially because of fear of persistent issues in the Red Sea. Rates spiked immediately after the Red Sea crisis and then fell, but are now rising again. Freightos head of research Judah Levine says in a newsletter that transpacific shipping projections point to the pulling forward of demand because of fear that the Red Sea delays will persist until later this year. Shippers also may be fearing disruption from labor negotiations at U.S. ports. That heightened demand for this time of year, coupled with already-stretched capacity from Red Sea diversions, is pushing rates up, Levine says. (ben.glickman@wsj.com; @benglickman)

(END) Dow Jones Newswires

May 15, 2024 14:54 ET (18:54 GMT)

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