Singapore Port Congestion Threatens To Gum Up Global Trade

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Congestion at Singapore’s container port, which is at its worst since the pandemic, has started spilling over to neighbouring ports, posing a risk for global supply chains. Shipping rates have risen as much as fivefold over the past year and it is only a matter of time before some of that is passed on to shoppers, according to Bloomberg.

Ships rerouting 

One explanation is that ships rerouting to avoid Red Sea attacks have led to bottlenecks in other Asian and European ports. Diversions have then meant more ships going through Singapore. Maersk, the world’s second-largest container carrier, for example, said it would skip two westbound sailings from China and South Korea this month owing to severe congestion.

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Source: en.portnews