Suez Canal remains blocked, stiff freight rate hikes expected

By IM Staff
Published: Friday, 26 March 2021

Global freight markets have been plunged into further chaos this week with the continuing blockage of the Suez Canal now accompanied by rumors of fresh freight rate hikes around the world, sources told Fastmarkets.

By Lee Allen

Transit through the pivotal Suez Canal shipping lane has been blocked by the large containership Ever Given since late on Tuesday March 23, creating a traffic jam of more than 100 vessels.

As of 6pm Beijing time on March 25, the ship remained aground and wedged in...

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