4.3m TEU Stuck: Port Congestion Worse Than Covid Peak

Global port congestion has hit a new peak, with over 4.3 million TEU of vessel capacity stuck waiting for berths worldwide. This surpasses the previous record set during the Covid-19 pandemic, when bottlenecks reached around 4 million TEU. The current delays are disrupting 12.6% of the global containership fleet, though this remains below the 15.7% affected during the 2022 pandemic restrictions. The ripple effects are clear: extended waiting times are driving up freight rates and operational costs for businesses. The Shanghai Containerised Freight Index has surged 156% since the U.S.-Iran…

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