The prospect of resumed passage through the Suez Canal has the maritime cargo industry bracing for the next phase of the crisis – a race to ports around the world. Data from supply chain visibility company project44 indicates that consumer goods will be delayed as the canal incident creates worsening congestion at ports.

project44 has published cargo data and route information that highlights where the post-Suez competition for docking capacity will be the most intense. Ports including Jeddah, Rotterdam, and Singapore are likely to be overwhelmed.

Vessel data released by project44 details the retail value of the cargo stuck in transit, currently at over $83 billion.

With reroutes further complicating scheduling, boats currently making their way around Africa will soon join the competition for limited discharging capacity at ports where supply chain breakdowns will take place in the weeks ahead.

Apparel, sports equipment, automotive, and consumer electronics are all on track for disruption.

“Just because your cargo is moving again doesn’t mean you can breathe easy,” said [insert name]. “understanding and monitoring port congestion over the next few weeks will inform us about how large the shockwaves from this incident are going to be. As this saga unfolds, it will take on increasingly global proportions.”

Value of Goods Stuck in Transit

  • Ships stuck total 513k TEU of capacity
  • Avg of $100k worth of goods in each TEU
  • 95% Capacity given current climate
  • Understanding that there are many different types of bulk-goods (oil, natural gas, coal, grain, etc) on these stuck ships. We estimated their value using assumptions mentioned above, difficult to calculate their exact cargo value.
  • Calculation: TEUs * 100k average value of a 20ft container * 95% capacity

Operating Costs of the Stand Still Cargo Vessels (Per Day)

  • $2314/TEU Annual Operating Costs
  • Calculation: TEUs * $2314 / 365 days

Operating Costs of the Stand Still Cargo Vessels (Per Hour)

  • $2314/TEU Annual Operating Costs
  • Calculation: TEUs * $2314 / 365 days / 24 hours

Crude Oil stuck in transit

  • # of tankers * 800,000 barrels/tanker * 50% capacity * $61 per barrel

Operating Costs for the Stand still tanker vessels (Per Day)

  • # of tankers * $9378 per day