Suez Canal Update

Freight

With the waterway remaining impassable, as of 0800 GMT on 26 March, vessel tracking data monitored by SSY counted 14 Handysizes, 23 Handymax/Supramax/Ultramaxes, 16 Panamax/Kamsarmaxes and 10 Capesizes at anchor waiting to transit the Suez Canal.

Congestion in the canal zone has served to tighten market balances with shipping schedules in the Black Sea already being affected by the incident through delays to vessels arriving at port to load cargo, with the potential for further vessel shortages growing.