Congestion Eats 8.5% of Supply as Tender Season Looms

Port congestion is now absorbing 8.5% of the global container fleet, roughly four times the pre-pandemic norm, and it may not clear before the Chinese New Year peak. On NYFI, Asia to US East Coast rates sit at an all-time high, with rates to both US coasts still climbing.
In this episode, Lars Jensen and Rich Heath cover:
• Why congestion could push Asia-Europe rates up just as shippers negotiate 2027 contracts in the European tender season
• What last week's upward shift in NYFI futures says about how long the market expects tight capacity to last
• The October 5 launch of NYFI options contracts on ICE Futures Europe, with a deeper dive next week alongside Peter Stallion of Clarksons
• How an orderbook approaching 43% could bring more consolidation and more competition at the same time
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