The freight industry has always been looking for ways to improve the efficiency of their voyages. Success on this effort is determined by being able to predict congestion events. In recent months we have seen two major congestion events that have had a significant impact in the industry; Panama canal congestion and the Suez canal blockage. Both resulting in unprecedented outcomes such as freight rates skyrocketing to up to $350,000 a day.
In this report we cover:
- Recent freight congestion events analysis
- The impact of these events
- How to reduce/anticipate risks in commodity markets with data